Question: CH 9 HW Exercise 9-16 (Algorithmic) (LO. 6) Velocity, Inc., a non-U.S. corporation, earned $686,000 U.S.-source income from royalties that it collected and $295,300 interest

CH 9 HW

Exercise 9-16 (Algorithmic) (LO. 6)

Velocity, Inc., a non-U.S. corporation, earned $686,000 U.S.-source income from royalties that it collected and $295,300 interest from its investment in U.S. Treasury bonds.

Compute Velocity's U.S. income tax on these amounts.

$

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