uring its first three years of operations a company reported income before taxes of 1,000,000 in year 1, ($1,800,000) in year 2, and $3,000,000 in year 3. The income x rate applicable to each of the years was 40%. Assume that there weren't any mporary differences and a valuation allowance was not necessary. What is the amount of the deferred income tax asset reported in the year 2 year-end alance sheet if the company elected a loss carryback? $720,000 $320,000 $400,000 $0 uestion 39 (2.5 points) d uring its first three years of operations a company reported income before taxes of 1,000,000 in year 1, ($1,800,000) in year 2, and $3,000,000 in year 3. The income x rate applicable to each of the years was 40%. Assume that there weren't any mporary differences and a valuation allowance was not necessary. What is the amount of the deferred income tax asset reported in the year 2 year-end alance sheet if the company elected a loss carryback? $720,000 $320,000 $400,000 $0 uestion 39 (2.5 points) d