Lincoln Corporation,a U

Lincoln Corporation,a U.S.corporation,owns 50% of the stock of a controlled foreign corporation (CFC) .At the beginning of the year,Lincoln's basis in its CFC stock was $100,000.The CFC's current-year income was $1 million,$600,000 of which was subpart F income.The CFC paid no foreign income tax and distributed no dividends.How much current taxable income must Lincoln report as a result of its ownership of the CFC?

A) $100,000
B) $600,000
C) $300,000
D) $0