Question - Indeco, a U.S. C corporation, operates Grange, a sales branch in Staccato. Indeco's U.S. corporate marginal tax rate is 35%; it is 20% for Staccato. Grange's pre-tax profit for the year is $1,000,000. There is no income tax treaty between the United States and Staccato. Staccato's currency is the U.S. dollar.
Compute Indeco's combined U.S. and foreign income tax on the Grange profits, under each of the following assumptions.
If an amount is zero, enter "0". Use the minus sign to indicate a "refund"