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Required information

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WCC Corporation has a $$175,000$ net operating loss carryover to $2023$ from a

previous year. Assume that it reported $$90,000$ of taxable income in $2023($before

the net operating loss deduction$)$ and $$105,000$ of taxable income in $2024($before

the net operating loss deduction$).$

Note: Leave no answer blank. Enter zero if applicable.

c$.$ Assuming the $$175,000$ NOL carryover originated in $2020$ and WCC elected to not carry back the

loss, what is the book$-$tax difference for each year? Is it favorable or unfavorable? Is it temporary or

permanent?

Answer is complete but not entirely correct.