2. (Please show your work) Mobe Co. reported the following operating income (loss) for its first three years of operations: Year 1 $ 300,000 Year 2 (700,000) Year 3 1,200,000 For each year, there were no deferred income taxes (before Year 1), and Mobe's effective income tax rate was 30%. In its Year 2 income tax return, Mobe elected the two year carry back of the loss. In its Year 3 income statement, what amount should Mobe report as total income tax expense? $120,000 $150,000 $240,000 $360,000