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What would be the answer to the multiple-choice question (pasted below) had the U.S. used a territorial system? (Please answer this part)

What would be the answer to the multiple-choice question (pasted below) had the U.S. used a territorial system? (Please answer this part)

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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What would be the answer to the multiple-choice question (pasted below) had the U.S. used a territorial system? (Please answer this part) Corporation, a domestic corporation, has $250,000 of taxable income from business conducted solely in the U.S. Dantor also operates two foreign branch offices. The Hamburg branch has $50,000 of taxable income related to business conducted solely in Germany. The Rome branch has $150,000 of taxable income, of which 50% is related to business conducted solely in Italy and 50% is related to business conducted solely in the U.S. Dantor's income subject to taxation in the U.S. is A. $250,000 B. $325,000 C. $400,000 D. $450,000
Transcribed Image Text:What would be the answer to the multiple-choice question (pasted below) had the U.S. used a territorial system? (Please answer this part) Corporation, a domestic corporation, has $250,000 of taxable income from business conducted solely in the U.S. Dantor also operates two foreign branch offices. The Hamburg branch has $50,000 of taxable income related to business conducted solely in Germany. The Rome branch has $150,000 of taxable income, of which 50% is related to business conducted solely in Italy and 50% is related to business conducted solely in the U.S. Dantor's income subject to taxation in the U.S. is A. $250,000 B. $325,000 C. $400,000 D. $450,000
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