Question: Part III- Problems Choose nine. (45 points) 1. Goolsbee, Inc., a U.S. corporation, generates U.S.-source and foreign-source gross income. Goolsbee's assets (tax basis) are

Part III- Problems Choose nine. (45 points) 1. Goolsbee, Inc., a U.S.

Part III- Problems Choose nine. (45 points) 1. Goolsbee, Inc., a U.S. corporation, generates U.S.-source and foreign-source gross income. Goolsbee's assets (tax basis) are as follows. Generating U.S.-source income Generating foreign-source income $15,000,000 25,000,000 Total $40,000,000 Goolsbee incurs interest expense of $200,000. Apportion interest expense to foreign-source income.

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