Felicia Rashad Corporation has pretax financial income (or loss) equal to taxable income (or loss) from 2006 through 2014 as follows Tax Rate 30 % 30 % 35 % 50 % 40 % 40 % 40 % 40 % 45 % ncome (LOSS 2006 2007 2008 2009 2010 2011 2012 2013 2014 $93,960 129,600 55,080 155,520 (486,000 291,600 97,200 340,200 (194,400) Pretax financial income (loss) and taxable income (loss) were the same for all years since Rashad has been in business. Assume the carryback provision is employed for net operating losses. In recording the benefits of a loss carryforward, assume that it is more likely than not that the related benefits will be realized