Spartan Corporation, a U. S. corporation, reported $3.5 million of pretax income from its business operations in Spartania, which were conducted through a foreign branch. Spartania taxes branch income at 15 percent, and the United States taxes corporate income at 21 percent.
Required:a. If the United States provided no mechanism for mitigating double taxation, what would be the total tax (U. S. and foreign) on the $3.5 million of branch profits?b. Assume the United States allows U. S. corporations to exclude foreign source income from U. S. taxation. What would be the total tax on the $3.5 million of branch profits?c. Assume the United States allows U. S. corporations to claim a deduction for foreign income taxes. What would be the total tax on the $3.5 million of branch profits?

1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know