TLR Productions reported income before taxes of $195,000 for the years 2016, 2017, and 2018. In 2019 they experienced a loss of $400,000. TLR had a tax rate of 25% in 2016 and 2017, and a rate of 35% in 2018 and 2019. Assuming the company uses the carryback provisions for the net operating loss, what amount should be reported as Income Tax Refund Receivable in 2019? A. $117,000 B. $120,500 C. $48,750 D. $140,000