In 2020, Smith Traders Incorporated and reported a net operating loss of $100,000. In 2021, before the NOL deduction, it reported taxable income of $50,000. What is Smith Traders 2021 taxable income after the NOL deduction and what is its NOL carryforward to 2022?

a) $0 taxable income; $50,000 NOL Carryforward

b) $10,000 taxable income; $60,000 NOL Carryforward

c) $40,000 taxable income; $60,000 NOL Carryforward

d) $50,000 taxable income; $100,000 NOL Carryforward