Dumbledore Inc. generates a loss carryforward in 2020 and realizes its tax benefits in 2021. Dumbledore Inc. has no temporary or permanent book-tax differences in either year and reports the following information: Item Amount Operating loss before income taxes for 2020 ($284,000) Income before income taxes for 2021 $711,000 Tax rate for all years 35% What is Dumbledore Inc.s income tax expense for 2021? $99,400 ($99,400) $149,450 $248,850