Question: Velocity, Inc., a non-U.S. corporation, earned $651,800 U.S.-source income from royalties that it collected and $272,200 interest from its investment in U.S. Treasury bonds.

Velocity, Inc., a non-U.S. corporation, earned $651,800 U.S.-source income from royalties that

Velocity, Inc., a non-U.S. corporation, earned $651,800 U.S.-source income from royalties that it collected and $272,200 interest from its investment in U.S. Treasury bonds. Compute Velocity's U.S. income tax on these amounts. %24

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