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USCo manufactures and markets electrical components. USCo operates
outside the United States through a number of CFCs, each of which
is organized in a different country. These CFCs derived the
following income for the current year:
Determine the amount of income that USCo must report as a deemed
dividend under subpart F in each scenario. (Leave no answer
blank. Enter zero if applicable.)
b. F2 has gross income of $6.8 million, including $5.1 million of foreign personal holding company interest and $1.7 million of gross income from the sale of inventory that F2 manufactured at a factory located within its home country. (Round your final answer to 1 decimal place.)
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