12. Smith Corporation and Jones Corporation, an affiliated group, reports the following results for the current year: Corporation Ordinary STCG/STCL LTCG/LTCL Income Smith $10,000 $10,000 ($ 5,000) Jones 30,000 (12,000) 16.000 What is the affiliated group's consolidated regular tax liability? A) $7,700 B) $10,290 C) $11,000 D) $49.000