Brendan paid $950 to Brazil in foreign income taxes. His total income was $52,500, which included $12,000 of investment income from Brazil. His U.S. tax liability is $8,000. Brendan's foreign tax credit is:
A. $12,000.
B. $0.
C. $950.
D. $1,829.
Answer: C
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Answer the following statement true (T) or false (F)
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What is negative convexity?
What will be an ideal response?