Tax credits A U.S.-based MNC has a foreign subsidiary that earns $259,000 before local taxes, with all the after-tax funds to be available to the parent in the form of dividends. The applicable taxes consist of a 33% foreign income tax rate, a foreign dividend withholding tax rate of 9.9%, and a U.S. tax rate of 30%. Calculate the net funds available to the parent MNC if: a. Foreign taxes can be applied as a credit against the MNC's U.S. tax liability. b. No tax credits are allowed. a. If foreign taxes can be applied as a credit against the MNC's U.S. tax liability, the net funds available to the U.S. company is $ . (Round to the nearest dollar.) b. If no tax credits are permitted, the net funds available to the U.S. company is $ . (Round to the nearest dollar.)