(Answered) Question bay city rollers inc a us company has a branch

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Question: Bay City Rollers Inc., a U.S. company, has a branch located in São Antonio and another in the Bahian Islands. The foreign source income from the São Antonio branch is $150,000, and the foreign source income from the Bahian Island branch is $225,000. The corporate tax rates in São Antonio, the Bahian Islands, and the United States are 30 percent, 24 percent, and 35 percent, respectively.

Required: Determine Bay City Rollers'

(a) U.S. foreign tax credit and

(b) net U.S. tax liability related to these foreign sources of income.

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