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Luther Industries,a U

Question 29

Multiple Choice

Luther Industries,a U.S.firm,has foreign assets valued at $120 million and foreign earnings before interest and taxes of $50 million.It pays a foreign tax at the rate of 5%.What is Luther's global intangible low tax income (GILTI) ?


A) $20.5 million
B) $30.0 million
C) $37.4 million
D) $50.0 million

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