The Quad affiliated group consists of Quad, a Delaware corporation, and its three wholly-owned subsidiaries. This year, the four corporations report the following net income (loss). Quad$1,000,000 Subsidiary 1 (400,000)Subsidiary 2 200,000 Subsidiary 3 600,000 If Quad elects to file a consolidated U.S. tax return, compute consolidated taxable income assuming that subsidiaries 1 and 2 are domestic corporations and subsidiary 3 is a foreign corporation.
A. $1,000,000
B. $800,000
C. $1,800,000
D. $1,400,000
Answer: B
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