Sheridan Co. reports a taxable and pretax financial loss of $950000 for 2018. Sheridans taxable and pretax financial income and tax rates for the last two years were

2016 $950000 30%

2017 $950000 35%

The amount that Sheridan should report as an income tax refund receivable in 2018, assuming that it uses the carryback provisions and that the tax rate is 40% in 2018, is

a. $332500.

b. $380000.

c. $427500.

d. $285000.