During the current year, Jackson, a U.S. corporation and accrual method taxpayer, engages in both U.S. and foreign business activities. All its overseas activities are conducted by a branch in Country S. The results of Jackson's current year operations are as follows:

 U.S. source taxable income......................... $2,000,000 

Foreign source taxable income ...................... 1,500,000 

Accrued Country Sincome taxes ..................... 600,000  

a. What is the amount of Jackson's foreign tax credit (assuming the corporate tax rate is 21% and income from all foreign activities fall into a single basket)?

b. Are any foreign tax credit carry backs or carryovers available? If so, in what years can they be used?