XYZ Corporation, a U.S. taxpayer, manufactures and sells products through a network of foreign branches and wholly-owned foreign subsidiaries. Relevant information for these entities for the current fiscal year appears in the following table:

Entity	Country	Legal Form	Activity	Income Before Tax	Income Tax Rate
A*	Malaysia	Corporation	Sales	100,000	24 %
B	Ireland	Corporation	Manufacturing	100,000	12.5
C	Bermuda	Corporation	Investment	100,000	0
D	HongKong	Branch	Manufacturing	100,000	16.5

A*: 100% of A's income is from sales to foreign customers.

Which entities' income is U.S. taxable income?

C.

B, C, and D.

C and D.

A, B, C, and D