Question - Bluebird, Inc., a domestic corporation, has worldwide taxable income of $8 million, including a $900,000 dividend from ForCo, a wholly-owned foreign corporation. ForCo's post-1986 undistributed E & P are $18 million and it has paid $12 million of foreign income taxes attributable to these earnings. What is Bluebird's deemed paid foreign tax credit related to the dividend received (before consideration of any limitation)?
a. $0.
b. $600,000.
c. $900,000.
d. $12 million
e. Some other amount.