During the current year, AirNot, Inc., had worldwide taxable income of $800,000 and a tentative U.S. income tax of $168,000. AirNot's taxable income from business operations in Ireland was $500,000 and foreign income taxes imposed were $155,000 stated in U.S. dollars. How much should AirNot claim as a credit for foreign income taxes on its U.S. inc

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During the current year, AirNot, Inc., had worldwide taxable income of $800,000 and a tentative U.S. income tax of $168,000. AirNot's taxable income from business operations in Ireland was $500,000 and foreign income taxes imposed were $155,000 stated in U.S. dollars. How much should AirNot claim as a credit for foreign income taxes on its U.S. income tax return for the current year?

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