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Mays Industries was established in 2017. Since its inception, the company has generated the following levels of earnings before taxes (EBT) (losses are shown in

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Mays Industries was established in 2017. Since its inception, the company has generated the following levels of earnings before taxes (EBT) (losses are shown in parentheses): Assume that each year the company has faced a 40 percent income tax rate. Also, assume that current carry back and carry forward provisions were available in prior years. What is the company's tax liability for 2022? a. $20,000 b. $21,000 c. $22,000 d. $24,000 e. $26,000

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