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[14] Mr. and Mrs. Robinson are both over age 65 and file a joint return. Their adjusted gross income was $26,700. The Robinsons tax before credits is $10. How much can they claim as a credit for the elderly?

A. $0

B. $10

C. $(120) D. $1,125

[15] For the current year, Gannon Corporation has U.S. taxable income of $500,000, which includes $100,000 from a foreign division. Gannon paid $45,000 of foreign income taxes on the income of the foreign division. Assuming Gannons U.S. income tax for the current year before credits is $105,000, its maximum Foreign Tax Credit for the current year is

A. $45,000 B. $20,000 C. $21,000 D. $24,000

[16] The following information pertains to Wald Corporations operations for the current year:

Worldwide taxable income

U.S. source taxable income

U.S. income tax before Foreign Tax Credit

Foreign nonbusiness-related interest earned

Foreign income taxes paid on nonbusiness-related interest earned Other foreign source taxable income Foreign income taxes paid on other foreign source taxable income

$300,000 180,000 63,000

30,000

6,000 90,000

30,000

What amount of Foreign Tax Credit may Wald claim for the current year?

A. $18,900 B. $24,900 C. $36,000 D. $25,200

[17] On April 1, 2018, Toni Painta hired a qualified ex-felon to perform duties related to her business. Toni paid the employee a total of $6,500 during 2018. The employee worked a total of 800 hours during the year. What is the amount Toni may claim as a work opportunity credit?

A. $0

B. $2,400 C. $2,600 D. $3,000

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