25. Corporation Parent (P)owns 85 percent of Corporation A1; Corporation A1 owns 60 percent of Corporation A2; Corporation A2 owns 90 percent of A3;

25. Corporation Parent (P)owns 85 percent of Corporation A1;

Corporation A1 owns 60 percent of Corporation A2; Corporation A2

owns 90 percent of A3; Corporation A3 owns 60 percent of Corporation

A4 and 15 percent of Corporation A2; Corporation A4 owns 100 percent

of Corporation A5. Identify the consolidated group(s) of corporations.

a. P—A1—A2—A3—A4—A5

b. P—A1 only

c. P—A1and A2—A3—A4—A5

d. P—A1; A2—A3; and A4—A5

e. P—A1 and A2—A3