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Tax Losses Rotten Tomatoes Inc. started its business 3 years ago. In the first two years Rotten Tomatoes reported taxable income of $126398 and $61250,

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Tax Losses Rotten Tomatoes Inc. started its business 3 years ago. In the first two years Rotten Tomatoes reported taxable income of $126398 and $61250, respectively, in the first two years, the company paid taxes of $54192 and $15,000. it is now the end of the third year, and Rotten Tomatoes has a loss of $156801 for tax purposes. Rotten Tomatoes has a policy to carry losses to the earliest year possible. The tax rate in the current year is 30% REQUIRED. Compute the amount of income tax receivable or payable in the current (third) year. . Show a receivable as positive (la. 1000) and show a payable as negative (1.e. -1000). . Please do not round intermediary calculations. Round your final answer to the nearest dollar. . Do not use dollar signs in your final

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