Katchup, Inc., reported a taxable and accounting loss of $ 130,000 for 2020. Its pre-tax accounting income and taxable income for the previous two years were as follows:

2018 $ 60,000

2019 $ 80,000

Assume Katchup uses the carryback provisions. The tax rates for the three years were 25% for 2018, 35% for 2019 and 30% for 2020. The amount that it reports as a net loss for financial reporting purposes in 2020, would be

a.

$0.

b.

$90,500.

c.

$91,000.

d.

$130,000.

e.

none of the above.