LO.2 Spruce Corporation holds the following general business credit carryovers.

2006 $ 5,000 2007 15,000 2008 5,000 2009 20,000 Total carryovers $45,000 If the general business credit generated by activities during 2010 equals $36,000 and the total credit allowed during the current year is $60,000(based on tax liability), what amounts of the current general business credit and carryovers are utilized against the 2010 income tax liability? What is the amount of the unused credit carried forward to 2011?
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