Possible answers:

$297,000

$360,000

$512,000

$231,000

Assume that Theodore Enterprises operates in an industry for which NOL carryback is allowed. Theodore Enterpises had the following pretax income floss) over its irst three years of operations: For each year there were no deferred income taxes and the tax rafe was 25\%. In its 2023 tax refum, Theodore elected a net operating loss carryback. No valuation account was deemed necessary for the deferred tax asset as of December 31, 2023. What was Theodore's income tax expense for 2024