Consider a US multinational operating in Japan through a 50-50 joint venture with a local firm. The JV makes an annual gross profit (before taxes) of $78 million for ten years. The US corporate tax rate is 35% throughout these ten years. For the first five years, Japan's corporate tax rate is 40%. At the beginning of the sixth year, Japan lowers its corporate tax rate to 30%. Each year, the US multinational repatriates its share of profits from the JV in the Japan to the United States and pays any corporate income tax it owes on those repatriated foreign profits. How much does the US multinational pay in total taxes to the US tax authority on these repatriated profits over the ten years? www