The corp has domestic taxable income of $400,000 and foreign-source taxable income of $200,000. Their U.S. tax on worldwide income is $204,000. The corp paid foreign income taxes of $65,000. What is their foreign tax credit on their US income tax return?

Question

The corp has domestic taxable income of $400,000 and foreign-source taxable income of $200,000. Their U.S. tax on worldwide income is $204,000. The corp paid foreign income taxes of $65,000.  What is their foreign tax credit on their US income tax return?