Leland corporation has a precredit u. s. tax of $210,000 on $1,000,000 of taxable income in 2019. leland has $400,000 of foreign source taxable income and paid $160,000 of foreign income taxes on this income. all of the foreign source income is treated as foreign branch income for foreign tax credit purposes. what is the maximum amount of foreign tax credit that leland can claim on its 2019 u. s. income tax return

The mccolls have made an offer on a new home. the home is new construction and scheduled to be completed by the end of the year. they provide a purchase deposit--a check in the amount of $40,000--to their agent, suzette. suzette, at the broker's direction, deposits the earnest money in the broker's trust fund account within two business days of receipt of the funds. did suzette follow the proper procedures? a. no, the check should not have been cashed. if a check is used as an earnest money deposit, it is to be held until acceptance of the offer. the seller must also be informed the buyer's check is being held and not negotiated.b. yes, suzette deposited the earnest money in the broker's trust fund account as directed. she also deposited the check within three business days of receipt. unless there were written instructions to hold the check until acceptance of the offer, the check may be cashed.c. no, suzette needed to deposit the earnest money in the broker's trust fund account within two days of receipt, not necessarily two business days.d. both a and c