Richie has income of 55000 from sweden which imposes a 30, Ask an Expert

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Richie has income of $55,000 from Sweden, which imposes a 30% income tax, and $45,000 of income from Italy which imposes a 40% income tax. Richie has taxable income from US sources of $200,000 and US tax liability before credits of $90,000. What is the amount of the foreign tax credit?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M947718

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