please show all explanations.

12. Smith Corporation and Jones Corporation, an affiliated group, reports the following results for the current year: Corporation Smith Jones Ordinary Income $10,000 30,000 STCG/STCL LTCG/LTCL $10,000 ($ 5,000) (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