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OwI Vision Corporation (OVC) is a North Carolina corporation engaged in the manufacture and sale...

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Accounting

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OwI Vision Corporation (OVC) is a North Carolina corporation engaged in the manufacture and sale of contact lenses and other optical equipment. The company handles its export sales through sales branches in Beigium and Singapore. The average tax book value of OVC's assets for the year was $170 milion, of which $136 million generated U.S. source income and $34 million generated foreign source income. OVC's total interest expense was $17 million. What amount of the interest expense will be apportioned to foreign source income under the tax book value method? Note: Round your final answer to 1 decimal place. (8 Answer is complete but not entirely correct

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