The correct answer is 19,500. Pleas show all the steps, thank you!

The Kelso Company had the following operating results: Year Income (loss) Tax rate Income tax 30,000 45,000 (60,000) 35% 30% 30% 10,500 first year of operations 13,500 2016 2017 2018 What is the income tax refund receivable? a. $18,000 b. $19,500 c. $18,750 d. $24,000