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QUESTION 1 Leona Corporation, a United States comoration, receives $150,000 of Foreign-Source Interest Income on...

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QUESTION 1 Leona Corporation, a United States comoration, receives $150,000 of Foreign-Source Interest Income on which Foreign Taxes of $21,300 are withheld. Leona Corporation's worldwide Taxable Income is $440,000 and its United States Federal fncome Tax liability before the Fotcign Tax Credit (FTC) is $92,400, What is Leona Comoration's Foreign Tax Credit? s 92,400 . \$ 31,500 . $21,300. $150,000. QUESTION 2 John Corporation, a United States corporation, receives $140,000 of Foreign-Source Interest Income on which Foreign Taxes of $31,350 are withheld. John Corporation's worldwide Taxable Income is $316,200 and its United States Federal Income Tax liability belore the Foreign Ta Credit (FTC) is $66,402. What is John Corporation's Foreign Tax Credit? $31,350. $66,402. \$ 29,400 . $140,000. Click Save and Submit to save and submit. Click Save All Answers to save all answers

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