The Philstrom consolidated group reported the following taxable income amounts. Parent owns all of the stock of both Junior and Minor. Determine the net operating loss (NOL) that is apportioned to Parent. 
A) $0. The SRLY rules apply.
B) $900,000. All NOLs of a consolidated group are apportioned to the parent.
C) $600,000.
D) $540,000.
Correct Answer:
Verified
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