Use the information provided in problem 25. Now assume that Intec Corporation's Chinese operation is organized as a branch, and repatriates after-tax profits of RMB 200,000 to Intec on October 1.
Required:
Determine the following related to the income earned by Intec's Chinese branch:
a. The amount of U.S. taxable income in U.S. dollars.
b. The amount of foreign tax credit allowed in the United States.
c. The amount of net U.S. tax liability.