Business, 21.12.2019 07:31 eboneecook8704

Orono corporation manufactured inventory in the united states and sold the inventory to customers in canada. gross profit from the sale of the inventory was $300,000. title to the inventory passed fob: destination. how much of the gross profit is treated as foreign source income for purposes of computing the corporation's foreign tax credit in the current year?

a. $0
b. $300,000
c. $150,000
d. the answer cannot be determined with the information provided.

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