Business, 26.09.2019 20:00 abigaleschwartz
Aacsb 40. orono corporation manufactured inventory in the united states and sold the inventory to customers in canada. gross profit from the sale of the inventory was $300,000. title to the inventory passed fob: destination. how much of the gross profit is treated as foreign source income for purposes of computing the corporation's foreign tax credit in the current year?
a. $300,000
b. $150,000
c. $0
d. the answer cannot be determined with the information provided.
Answers: 1
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