During the year, Purple Corporation (a U.S. Corporation) has US source income of $1,800,000 and foreign income of $600,000. The foreign-source income generates foreign income taxes of $150,000. The US income tax before the foreign tax credit is $816,000.
Purple Corporation's foreign tax credit is:
a. 112,500
b. 150,000
c. 204,000
d. 816,000
e. None of the above