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The following data represent the complete taxable income history for U corporation Year Taxable income 2002 $15,000 2003 5,000 2004 30,000 2005 10,000 2006 (

The following data represent the complete taxable income history for U corporation

Year Taxable income

2002 $15,000

2003 5,000

2004 30,000

2005 10,000

2006 ( 50,000)

2007 (10,000)

2008 23,000

2009 25,000

If the company always chooses the carryback, carryforward option, what is the tax liability for 2008?

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