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Given the following for the XYZ Company: Year 2015 2016 2017 2018 Pre-Tax Net Income (Loss) $10,000 8,000 (20,000) 12,000 Tax Rate 20% 20% 20%

Given the following for the XYZ Company: Year 2015 2016 2017 2018 Pre-Tax Net Income (Loss) $10,000 8,000 (20,000) 12,000 Tax Rate 20% 20% 20% 20% Assume XYZ elects the carryback provision in 2017 and that future income is "more likely than not." Reported 2017 Net Loss Select one: a. $16,400 b. $15,000 c. $16,000 d. $4,000 e. $20,000

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