Question: Cloudustries is a US multinational firm. Cloudustries has major operations in three countries, A, B, and C, and the tax rates are 22%, 35%, and

Cloudustries is a US multinational firm. Cloudustries has major operations in

Cloudustries is a US multinational firm. Cloudustries has major operations in three countries, A, B, and C, and the tax rates are 22%, 35%, and 36%, respectively. The corresponding taxable earnings are $222 million, $242 million, and $596 million, respectively. Assume Cloudustries' profits are fully and immediately repatriated. If Cloudustries' net US tax liability on its foreign earnings is $75 million, Cloudustries' corporate tax rate in the US is closest to: (4 marks) Select one: Oa. 32.84% Ob. 39.92% O c. 31.00% O d. 9.61%

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