Windmill Corporation manufactures products in Its plants in lowa, Canada, Ireland, and Australia. Windmill conducts its operations in Canada Complete this question by entering your answers in the tabs below.

Classify the income received by Windmill into the appropriate FTC baskets.

Note: Leave no answer blank. Enter zero if applicable. Complete this question by entering your answers in the tabs below.

Required B

Windmill has $$1,284,000$ of U$.$S$.$ source gross income. Windmill also incurred SG&A of $$334,000$ that is apportioned between

U$.$S$.$ and foreign source income based on the gross income in each basket. Assume KiwiCo's gross income is $$313,900.$

Compute the FTC limitation for each basket of foreign source income.

Note: Do not round any division. Round other intermediate computations and final answers to the nearest whole dollar

amount.

through a $50$ percent$-$owned joint venture, CanCo. CanCo is treated as a corporation for U$.$S$.$ and Canadian tax purposes. An unrelated

Canadian investor owns the remaining $50$ percent. Windmill conducts its operations in Ireland through a wholly owned subsidiary, IrishCo.

IrishCo Is a controlled foreign corporation for U$.$S$.$ tax purposes. Windmill conducts its operations in Australia through a wholly owned hybrid

entity, KiwiCo. KiwiCo is treated as a branch for U$.$S$.$ tax purposes and a corporation for Australian tax purposes. Windmill also owns a $5$ percent

Interest in a Dutch corporation, TulipCo.

During $2023,$ Windmill reported the following foreign source income from its international operations and investments.

Note: CanCo and KiwiCo derive all of their earnings from active business operations.

Required:

a$.$ Classify the income recelved by Windmill into the appropriate FTC baskets.

b$.$ Windmill has $$1,284,000$ of U$.$S$.$ source gross income. Windmill also incurred SG&A of $$334,000$ that is apportioned between U$.$S$.$ and

foreign source income based on the gross income in each basket. Assume KiwiCo's gross income is $$313,900.$ Compute the FTC Iimitation

for each basket of foreign source income.