Howard Property and Casualty Insurance Corporation reported a net operating loss of $$160,000$ for financial reporting and tax purposes in $2019.$ The enacted tax rate is $25\%.$ Taxable income, tax rates, and income taxes paid in Howard's first two years of operation were as follows:

l$2017$: $80,00040\%$

$2018$: $20,00025\%$

Assume NOL is allowed to carry back for two years, the amount of net loss reported on the income statement for the year ended December $31,2019$ woild be:

$(114,000)$

$(96,000)$

$(120,000)$

$(108,000)$