Question: Please show step by step solution and where each calculation is coming from. Jonathan owns 6 0 % of Carweb.com Ltd . , 7 0

Please show step by step solution and where each calculation is coming from.
Jonathan owns 60% of Carweb.com Ltd.,70% of Taxman Inc. and 51% of Internet
Housefind Ltd. The remaining shareholders in all three corporations are unrelated
parties. Each of the three companies earns at least $ 500,000 of active business income.
Required:
What is the maximum amount of combined corporate business income that the three
companies can claim on their corporation income tax returns, based on only the above
information?
a) $ 1,000,000
b) $ -0-
c) $ 500,000
d) $ 1,500,000
e) None of the above

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