Question: FCo, a Country X corporation, which does not have a treaty with the US. FCo engages in a US trade or business through a branch. A review of FCo's branch interest expense account indicates that it paid $40,000 of portfolio interest to an unrelated foreign corporation but that it is entitled to claim a $50,000 interest deduction in determining the branch's effectively connected income. FCo owes a 30% withholding tax on $10,000 when the branch transfers $10,000 to FCo. Select one: A. True B. False