ABC's taxable income for the year is $25,000 and CBA's taxable income for the year is $10,000,000.

Question:

ABC's taxable income for the year is $25,000 and CBA's taxable income for the year is $10,000,000. Compute the combined tax liability of the two corporations assuming the following:
a. Amanda, Jermaine, and O'Neil each own one-third of the stock of ABC and CBA.
b. Amanda, Jermaine, and O'Neil each own one-third of the stock of ABC and Amanda and Dustin each own 50 percent of the stock of CBA.