Actual Multiple-Answer Question Listed Below: Consider the following data for a company: Taxable income 2 Years ago 20X1 Last Year 20X2 Current Year 20X3 $2,000,000 -$12,000,000 $2,000,000 800,000 Taxes paid (40%) Net Income After Tax 1,200,000 800,000 1,200,000 If Corporate Loss Carryback and Carryforward is allowed by the taxing authority of this company, click on one or more of the following that is (are) TRUE statement(s) with regard to this form of corporate tax treatment. Going forward to future tax years (beyond 20X3), the company still has $8,000,000 of losses to Carryforward. During any tax year, whether the company is profitable (making money) or not profitable (losses), such a tax environment is "friendly" to the company in terms of tax expenses for current and future tax years. Because of losses in current tax year (20X3), the company do not need to pay taxes. During a tax year, when the company is profitable (making money and need to pay tax), it is a good tax deal. But when a company is not profitable (losses), it is a bad tax deal. Going forward to future tax years (beyond 20X3), the company have used up $2,000,000 of its Carryback Losses. Because of losses in current tax year (20X3), the company actual receives a tax refund of $800,000.