ted the following levels of earnings before taxes (EBT) (losses are shown in parentheses): Year 2001 2002 2003 2004 2005 2006 EBT s 50,000 40, 000 30,000 20,000 (60,000) 60,000 Assume that each year the company has faced a 40 percent income tax rate. Also, assume that current carry back and carry forward visions were available in prior years. What is the company's tax liability for the most recent year