Use the following information for questions 9. Neasha Corporation reported the following results for its first three years of operation: 2006 income (before income taxes) $100,000 2007 loss (before income taxes) (900,000) 2008 income (before income taxes) 1,000,000 There were no permanent temporary differences during these three years. Assume a corporate tax rate of 30% for 2006 and 2007, and 40% for 2008. Assuming that Neasha elects to use the carryback provision, what income (loss) is reported in 2007? (Assume that any deferred tax asset recognized is more likely than not to be realized.) $(900,000) $-0- $(870,000) $(550,000) Assuming that Neasha elects to use carryforward provision and not the carryback provision, what income (loss) reported in 2007? $(900,000) $(540,000) $-0- $(870,000)