Craig's Cars, a car dealership, has taxable income and net operating losses as follows Tax Year 2012 2013 2014 2015 2016 Taxable Income/NOL $30,000 $45,000 $80,000 (S100,000) S500,000 Craig's Cars does not make an election regarding NOLs (i.e. Craig's Cars will use the default carryover provisions). What will Craig's Cars 2014 taxable income be after application of the NOL