income tax 2

Kanaaq Sila began a group of companies in 2019 which are referred to as the 'Siia Group'. The companies only earn active business income. The parent company of the group is Sila Co. which had $300,000 of taxable income in 2020. Sila Co.'s wholly owned subsidiaries are kan Co. which has taxable income of $50,000 for 2020, and Aaq Co. which has a loss of $20,000 for 2020 and unused losses from 2019 of $15,000. Sila Co. and Kan Co. have no loss carryovers. The corporate tax rate is 13%. What is the total tax liability for the Sila Group in 2020? Select one or more: a. $40,950 b. $42,900 c. $45,500 O d. $39,000