A quick Googling turned this up in an excerpt on Google Books – the very same photo (albeit cropped) is used in the book.

“P-47 Thunderbolt Aces of the Ninth and Fifteenth Air Forces”
By Jerry Scutts
(page 13)

The photo is credited as (IWM HU 76214)
Aircraft is P-47D – coded IA-V (sorry, no serial quoted)
358th FG
Pilot in photo: Lt. Milford C Peterson (367th FS)
Aircraft was the usual mount for Capt Robert Schuster of the 366th FS