CanTech Supply had a tax loss of $471,000 in 2015, when the tax rate was 15%. The tax loss is expected to be used in 2017. At present, there is an enacted tax rate of 24% for 2016. The tax rate is expected to increase to 30% in 2017, but no legislation concerning tax rates has yet been drafted. a) At what amount should the tax loss carryforward be recorded, if it meets the appropriate criteria to be recorded? Please make sure your final answer(s) are accurate to the nearest whole number

b) Assume CanTech Supply has recorded a $13,500 benefit in relation to a $36,000 tax loss carryforward in 2017. Tax rate is changed to 30% as above. Prepare the journal entry on December 31, 2017. Enter an appropriate description, and enter the date in the format dd/mmm (i.e., 15/Jan). Please make sure your final answer(s) are accurate to 2 decimal places.