Given the following for the XYZ Company:

year pre-tax net income(loss) tax rate

------- ---------------------------------- ------------

2015 $10,000 20%

2016 2,000 20%

2017 (15,000) 20%

2019 12,000 20%

Assume XYZ elected the carryback provision in 2017 and future income wasnot"more likely than not." 2018 Net Income is:

Select one:

a.$10,200

b.$7,200

c.$11,400

d.$9,600

e.$600