MWC Corp. is currently in the sixth year of its existence (2015). In 20102014, it reported the following income (losses) before net operating loss carryovers or carrybacks:

2010:	$	(72,500	)
2011:		(33,500	)
2012:		32,000
2013:		172,500
2014:		(36,000	)
2015:		547,500

a.

Assuming that MWC elects to not carry back NOLs. what was MWCs 2013 taxable income?

b.

If MWC does not elect to forgo any NOL carrybacks, what is its 2015 taxable income after the NOL deduction?

c	MWC always elects to forgo NOL carrybacks,

c-1.

What is its 2015 taxable income after the NOL deduction?

c-2.

What is its 2015 book-tax difference associated with its NOL?

c-3.

Is it favorable or unfavorable?

	Favorable
	Unfavorable
	Not applicable

c-4.

Is it permanent or temporary?

	Permanent
	Temporary
Not applicable