10. Theodore Enterprises had the following pretax income (loss) over its first three years of operations:

2016	$	500,000
2017		(900,000	)
2018		1,500,000

For each year there were no deferred income taxes and the tax rate was 30%. In its 2017 tax return, Theodore elected a net operating loss carryback. No valuation account was deemed necessary for the deferred tax asset as of December 31, 2017. What was Theodore's income tax expense for 2018?

Multiple Choice

$450,000.

$180,000.

$270,000.

$330,000.