11. Chapter b Multiple Choice 03-124, Section b Multiple Choice 03-124, Problem b Multiple Choice 03-124 Uniontown Books began operating in 2011. The company lost money its first three years of operations, but has had an operating profit during the past two years. The company's operating income (EBIT) for its first five years was as follows: Year 2011 2012 2013 2014 2015 EBIT $2,200,000 2,000,000 $1,000,000 $1,200,000 $7,000,000 The company has no debt, and therefore, pays no interest expense. Its corporate tax rate has remo ned at 34% dur ng this 5-year period what was Union own's tax abil y for 2015? Assume that the company has taken ull advantage of the carry-back and carry-forward provisions, and assume that the current provisions were applicable in 2011.) Oa. $867,000 b51,020.000 C. $1,071,000 ( d. S775-200 O. $958,800