Dani Waters, Inc. has $720,000 of U.S. source income, $180,000 of foreign source income, and paid foreign taxes of $28,500. Assume that the U.S. income tax liability before the foreign tax credit is $100,000. How much is Dani Waters' foreign tax credit? 

Answer rating: 100% (QA)

To calculate Dani Waters foreign tax credit we first need to determine the portio... View the full answer