USP is a domestic corporation. In 20Y4, USP derives the foll…
Questions
USP is а dоmestic cоrpоrаtion. In 20Y4, USP derives the following items of gross income: а $150,000 dividend from a French subsidiary corporation, $60,000 of interest income from a loan to a Dutch subsidiary, $120,000 of royalty income from a 50%-owned Irish corporation that does business only in Europe, a $90,000 capital gain from the sale of stock in a Brazilian corporation, and $450,000 of gross profit from export sales of goods manufactured in Florida. How much foreign source gross income does USP have in 20Y4?
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