(Answered) Question use the information provided in problem 25 now

Accounting

Question: Use the information provided in problem 25. Now assume that Intec Corporation's Chinese operation is organized as a branch, and repatriates after tax profits of RMB 200,000 to Intec on October 1.

Required: Determine the following related to the income earned by Intec's Chinese branch:

a. The amount of U.S. taxable income in U.S. dollars.

b. The amount of foreign tax credited allowed in the United States.

c. The amount of net U.S. tax liability.

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