XORO has had taxable losses for the previous two years resulting in tax loss carryforwards available at the end of 20x3 of $90,000 which have never been recognized in the books. In 20X4, the company had the following: Accounting income before taxes and depreciation of $50,000; depreciation of $35,000 and CCA of $65, 000. Based on this information what would be the taxable income for 20x4 and the loss carryforwards available for 20x5 using the best tax planning strategy available to XORO? Multiple Choice Taxable loss is $15,000 nil and loss carryforwards available for 20x5 is $105,000 Taxable loss is $20,000 and loss carryforwards available for 20x5 is $110.000 Taxable income is nil and loss carryforwards available for 20x5 is $40. 000 Taxable income is nil and loss carryforwards available for 20x5 is $55. 000