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30. Power Inc. began operating in 2015. The company lost money the first year but has...

30. Power Inc. began operating in 2015. The company lost money the first year but has been profitable ever since. The company’s taxable income (EBT) for its first four years is listed below. Each year the company’s corporate tax rate has been 40 percent. Year Taxable Income 2015 $30,000 2016 -$70,000 2017 $20,000 2018 $30,000 Assume that the company has taken full advantage of the Tax Code’s carry-back, carry-forward provisions and that the current provisions were applicable in 2015 through 2018. How much did the company pay in taxes in 2018? a. $8,000 b. $4,000 c. $12,000 d. $0 e. Cannot be determined

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