During its first three years of operations a company reported pre-tax book income of $1,000,000 in year 1,($1,800,000) in year 2 , and $3,000,000 in year 3. The income tax rate applicable to each of the years was 21%. Assume that there weren't any temporary differences and a valuation allowance was not necessary. What amount of income tax expense was reported by the company in year 3 with respect to the net operating loss carryforward? Multiple Choice $880,000 $630,000 $378,000 $252,000