USCO manufactures and markets electrical components. USCo operates outside the United States through a number of...

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USCO manufactures and markets electrical components. USCo operates outside the United States through a number of CFCs, each of which is organized in a different country. These CFCs derived the following income for the current year: Determine the amount of income that USCO must report as a deemed dividend under subpart F in each scenario. Note: Leave no answer blank. Enter zero if applicable. Round your final answer to 1 decimal place. Problem 24-59 Part a (Algo) a. F1 has gross income of $14.00 million, including $560,000 of foreign personal holding company interest and $13.30 million of gross Income from the sale of inventory that F1 manufactured at a factory located within its home country Amount of income reported million b. F2 has gross income of $8.6 million, including $6.88 million of foreign personal holding company Interest and $1.72 million of gross Income from the sale of inventory that F2 manufactured at a factory located within its home country. Amount of income reported million USCO manufactures and markets electrical components. USCo operates outside the United States through a number of CFCs, each of which is organized in a different country. These CFCs derived the following income for the current year: Determine the amount of income that USCO must report as a deemed dividend under subpart F in each scenario. Note: Leave no answer blank. Enter zero if applicable. Round your final answer to 1 decimal place. Problem 24-59 Part a (Algo) a. F1 has gross income of $14.00 million, including $560,000 of foreign personal holding company interest and $13.30 million of gross Income from the sale of inventory that F1 manufactured at a factory located within its home country Amount of income reported million b. F2 has gross income of $8.6 million, including $6.88 million of foreign personal holding company Interest and $1.72 million of gross Income from the sale of inventory that F2 manufactured at a factory located within its home country. Amount of income reported million