Assume the same facts as in Problem 32, except that the group members have adopted the relative tax liability tax-sharing method.

In Problem 

The Chief consolidated group reports the following results for the tax year. Dollar amounts are listed in millions.

Parent SubOne SubTwo SubThree Consolidated $600 0- 250 140 60 (50) S 850 35 200 $200 ($90) (25) Ordinary income Capital gain/loss 5 1231 gain/loss Separate taxable $850 $200 150 ($90) with a $25 capital loss carryover incomes Consolidated taxable ncome $1,085 Consolidated tax liability 380 Energy tax credit, from SubOne Net tax due 310