P, S, and T Corporations have filed consolidated tax returns for several years. P, S, and T report taxable incomes or losses (without regard to any dividends received and dividends-received deductions) of $200,000, $(70,000), and $175,000, respectively, for the current year. P and S received cash dividends this year as follows:

a. What amount of dividend income does the group include in its consolidated taxable income?
b. What is the amount of the consolidated dividends-received deduction?
c. What is the amount of consolidated taxable income and consolidated regular tax liability? Ignore the U.S. production activities deduction.

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Shareholder Distributing Corporation T Corporation 100%-owned nonconsolidated US-based life insurance company | 15,000 25%-owned domestic corporation 51 %-owned foreign corporation Amount P Corporation $125,000 P Corporation S Corporation 40,000 P Corporation 10,000