[ANSWERED] Foreign Tax Credit. Laser Corporation, a U.S. corporation, has a foreign office that conducts…

Foreign Tax Credit. Laser Corporation, a U.S. corporation,
has a foreign office that conducts business in France. Laser pays foreign taxes
of $74,000 on foreign-source taxable income of $185,000. lts U.S.-source
taxable income is $320,000, total U.S. taxable income (worldwide) of $505,000,
and U.S. tax liability (before reductions for the foreign tax credit) is
$106,050. What is Laser’s foreign tax credit? What is Laser’s foreign tax
credit carryback or carryover?