Question: I need the calculations to make it clear pleas ?? Suppose that a subsidiary operates in a foreign country with a corporate tax rate of

I need the calculations to make it clear pleas ??

Suppose that a subsidiary operates in a foreign country with a corporate tax rate of 42% and a withholding tax on dividends of 5%. If the U.S. parent has surplus foreign tax credits, what is the marginal rate of tax on remitted profits from the subsidiary? 13% 34% 8% 5% Ans: d

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