Parent and Subsidiary Corporations form an affiliated group.Last year, the initial year of operation, Parent and Subsidiary filed separate returns.This year.the group files a consolidated return. 
How much of the Subsidiary loss can be carried back to last year?
Definitions:
Cash Flows
The sum total of currency transactions inbound and outbound in a firm, markedly affecting its cash-on-hand.
Present Values
The today's value of a sum of money or cash flows expected in the future, calculated using a designated return rate.
Payback Period
The payback period is the length of time required to recover the cost of an investment.
Satisfactory Return
A level of profit or return on investment that meets or exceeds the expectations or benchmarks of an investor or manager.
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