A Corporation's Records Show the Following The Corporate Marginal Tax Rates in 2014 (Or Later Years

question 11

Multiple Choice

A corporation's records show the following: $$\begin{array} { l r r r c r } 2009 & 2010 & 2011 & 2012 & 2013 \\\text { Net operating gain (loss) } & \$ 6,000 & \$ 16,000 & \$ 32,000 & \$ 27,000 & ( \$ 65,000 ) \end{array}$$ The corporate marginal tax rates in 2014 (or later years, if applicable) are expected to exceed those in the past.If the corporation wishes to maximize its tax savings with the current year's $65,000 NOL, on what portion of income in 2012 will tax not be refunded?

• A)$0
• B)$4,000
• C)$16,000
• D)$27,000