ParentCo and SubCo Recorded the Following Items of Income and Deduction

ParentCo and SubCo recorded the following items of income and deduction for the current tax year. $$\begin{array} { l c c } \text { Item } & \begin{array} { c } \text { ParentCo's } \\\text { Taxable Income }\end{array} & \begin{array} { c } \text { SubCo's Taxable } \\\text { Income }\end{array} \\\text { Income (Loss) from Operations } & \$ 100,000 & \$ 20,000 \\\S 1231 \text { Loss } & ( 8,000 ) & \\\text { Capital Gain (Loss) } & ( 10,000 ) & 14,000 \\\text { Charitable Contribution } & 20,000 & 1,000\end{array}$$ Compute ParentCo and SubCo's consolidated taxable income or loss.

A) $95,000
B) $99,000
C) $104,400
D) $116,000
E) $120,000