Knowledge Check 01 Manning Corp. reported the following pretax accounting income and taxable income for its first three years of operations. The company's tax rate is 34% for all three years. The company elected a loss carryback. Assuming a valuation allowance is not required what is the amount of the deferred tax asset that will be reported at the end of Year 2? Year 1 Year 2 Year 3 s 353,000 (579,000) 735,000