Orono Corporation manufactured inventory in the United States and sold the inventory to customers in Canada. Gross profit from the sale of the inventory was $300,000. Title to the inventory passed FOB: destination. How much of the gross profit is treated as foreign source income for purposes of computing the corporation's foreign tax credit in the current year?
A. $0
B. $150,000
C. $300,000
D. The answer cannot be determined with the information provided.
Answer: A
Business
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