The following information pertains to Wald Corp.’s operations for the year ended December 31, 2007:
|
Worldwide taxable income |
$300,000 |
|
US source taxable income |
180,000 |
|
US income tax before foreign tax credit |
96,000 |
|
Foreign nonbusiness-related interest earned |
30,000 |
|
Foreign income taxes paid on nonbusiness-related interest earned |
12,000 |
|
Other foreign source taxable income |
90,000 |
|
Foreign income taxes paid on other foreign source taxable income |
27,000 |
What amount of foreign tax credit may Wald claim for 2007?
- $28,800
- $36,600
- $38,400
- $39,000