How much interest expense would your client allocate, Accounting Basics

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How much interest expense would your client allocate

Problem

Your multinational client incurred interest expense in 2016 of $50,000,000. This interest expense was recorded on the US Parent's books since they were the legal entity that originated this loan with the bank.

How much interest expense would your client allocate against their domestic source income if they use the FMV method of allocation and 80% of the value of their assets are outside of the US?

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