12-23 Oak Corporation holds the following general business credit carryovers

2013

$5,000

2014

$15,000

2015

$6,000

2016

$19,000

Total carryovers

$45,000

If Oaks general business credit generated by 2017 activities equals $36,000 and the total credit allowed during the current year is $60,000 (based on tax liability), what amounts of the current general business credit and carryovers are utilized against the 2017 income tax liability? What is the amount of unused credit carried forward to 2018

Please answer the question using the following chart:

2017 General Business credit
Total credit allowed (based on tax liability)
Less utilization of carryovers on FIFO basis
2013
2014
2015
2016
Remaining credit
Applied against
2017 General Business credit
2017 unused amount carried forward to 2018

Thank you.