FC1 is a wholly-owned subsidiary of DC, a domestic corporation. FC1 owns all the stock...
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FC1 is a wholly-owned subsidiary of DC, a domestic corporation. FC1 owns all the stock of FC2. FC1s accumulated E&P is 150 euros on which $50 foreign income tax has been paid. FC2s accumulated E&P is 500 euros on which $300 of foreign income tax has been paid. FC2 pays 50 euro dividend to FC1 which in turn pays a 100 euro dividend to DC. What is DCs maximum foreign tax credit?
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