1. In the current tax year, Alpha Corporation incurs $1,000,000 of taxable income which results in a $350,000 federal tax liability. Of the $1,000,000 total taxable income, $250,000 is properly classified as foreign source. What is the foreign tax credit limitation for the current year (1) $0 (2) $87,500 (3) $250,000 (4) $350,000
2. Discuss the techniques of moving averages and filter rules as they are used by technical analysts. Include in your answer a discussion of technical analysis for an investor wishing to invest in emerging markets.