The correct answer is 275880

The following information relates to Pepper Company. Pepper's fiscal year ends September 30. Pepper did not have any temporary or permanent differences for 2018, 2019, or 2020. Pepper's taxable income for its first three years of operations are as follows: 2018 2019 2020 344,000 (558,000) 726,000 Pepper's tax rate is 34% for 2018 and 2019. The enacted tax rate for 2020 is 38% and all future years. Pepper was certain that it would recover the full tax benefit of the Net Operating Loss (NOL). What did Pepper report as income tax expense for 2020 after application of the NOL