55. USCo owns 100 percent of the following corporations: Dutch N.V., Germany A.G., Australia PLC, Japan Corporation, and Brazil S.A. During the year, the following transactions took place:

a. Germany A.G. owns an office building that it leases to unrelated persons. Germany A.G.

engaged an independent managing agent to manage and maintain the office building and performs no activities with respect to the property.

b. Dutch N.V. leased office machines to unrelated persons. Dutch N.V. performed only incidental activities and incurred nominal expenses in leasing and servicing the machines. Dutch N.V. is not engaged in the manufacture or production of the machines and does not add substantial value to the machines.

c. Dutch N.V. purchased goods manufactured in France from an unrelated contract manufacturer and sold them to Germany A.G. for consumption in Germany.

d. Australia PLC purchased goods manufactured in Australia from an unrelated person and sold them to Japan Corporation for use in Japan.
Determine whether the above transactions result in subpart F income to USCo.