Assume that Theo Enterprises operates in an industry for which NOL Carryback is allowed. Theo Enterprises had the following pretax income (loss) over its first three years of operations. 2019 2020 2021 $540,000 (860,000) 1,580,000 For each year there were no deferred income taxes and the tax rate was 25%. In its 2020 tax return, Theo elected a net operating loss carryback. No Valuation account was deemed necessary for the deferred tax asset as of December 31, 2020. What was Theo's income tax expense for 2021