Waco Leather Incorporated, a U.S. corporation, reported total taxable income of $4.75 million. Taxable income included $1.43 million of foreign source taxable income from the company's branch operations in Mexico. All of the branch income is foreign branch income. Waco paid Mexican income taxes of $286,000 on its branch income.

Compute Waco's allowable foreign tax credit.

Note: Enter your answer in dollars and not in millions of dollars.