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This is the same information as the prior question. Tahoe Thunder Inc reported a net operating loss (NOL) of $400,000 for financial reporting and tax

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This is the same information as the prior question. Tahoe Thunder Inc reported a net operating loss (NOL) of $400,000 for financial reporting and tax purposes in 2019. They will carry forward that NOL to future years. Recall that the tax law indicates that NOL's can be carried forward indefinitely. The amount of the NOL deduction is limited to 80% of taxable income which is computed without regard to the NOL deduction. Tahoe Thunder generated $450,000 and $150,000 of income (for book & tax) in 2020 & 2021, respectively. Assume a 20% marginal tax rate for all years. What is the balance in the DTA account on December 31, 2021? O $63,000 O $4,200 O $0 $31,500

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