Velox, Incorporated began operations last year. For its first two taxable years, Velox$$s records show the following:

Year $1$ Year $2$

U$.$S$.$ source income $ $300,000$ $ $270,000$

Foreign source income $200,000630,000$

Taxable income $ $500,000$ $ $900,000$

Foreign income tax paid $ $62,000$ $ $101,000$

Required:

Compute Velox$$s U$.$S$.$ tax for both years, assuming the foreign source income does not qualify as FDII.