The Alpha-Beta affiliated group has consolidated taxable income of $400,000 and tentative general business credit of $80,000 in the current year. The maximum general business credit that can be used on the consolidated return is
A) $69,250.
B) $14,750.
C) $80,000.
D) $64,000.
A) $69,250.
Tax on $400,000 * 21% = $84,000
$84,000 - (25% (84,000-25,000) = 69,250
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