Required information [The following information applies to the questions displayed below) In 2021, OCC Corporation made a charitable donation of $400,000 to the American Red Cross For the year, OCC reported taxable income of $1.500.000 before deducting any charitable contributions before deducting its $20,000 dividends-received deduction, and before deducting its $40,000 NOL carryover from last year. Assume the donation is qualified contribution b. Assume that in 2022, OCC did not make any charitable donations and that it is allowed to deduct its full charitable contribu carryover, if any, from 2021 What book-tax difference associated with the charitable contributions will OCC report in 2022? Is difference favorable or unfavorable? Is it permanent or temporary? Book on Difference $ 24,000 Fareblo Unfavorable Favorable Temporary Permanent Temporary 2022