Enders, Inc., a domestic corporation that invests in foreign securities, reports total taxable income for the tax

Question:

Enders, Inc., a domestic corporation that invests in foreign securities, reports total taxable income for the tax year of $290,000, consisting of $208,800 in U.S.-source business profits and $81,200 of income from foreign sources. Foreign taxes of $24,000 were withheld by foreign tax authorities. Enders' U.S. tax before the FTC is $78,000. Compute Enders's FTC for the tax year.

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...