A firm that earns 1 million before tax in brazil pays, Ask an Expert

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A firm that earns $1 million before tax in Brazil pays Brazilian tax of $250,000 and remits the remaining $750,000 as a dividend to its U.S. parent. It pays a 5% dividend withholding tax on its remittance. Assuming a US tax rate of 35%, the parent will owe U.S. tax on this dividend of

$25,000

$52,500

$62,500

Nothing. It will also receive a foreign tax credit of $90,000.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M91645728

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