P is a publicly held corporation with a subsidiary S of which P has always owned 100% of the outstanding stock. P has taxable income of $1,000,000 and S has taxable income of $100,000. S distributed a dividend of $50,000 from its taxable of $100,000 so that P has potential additional taxable income of $50,000 so that P has potential additional taxable income of $50,000 and add that P has not owned S always.

a P's taxable income increases by $10,000 because of teh 80% DRD

b P ahs no additional AMT exposure because of 80% DRD's are not an AMT ACE adjustment.

Which is the correct answer if P has not owned S always?

c P's corporate income tax is $343,400

d All of the above