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Clinton Corporation operates in an industry for which NOL carryback is not allowed, and had...

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Accounting

Clinton Corporation operates in an industry for which NOL carryback is not allowed, and had the following pretax income (loss) over its first three years of operations 2022 $ 1,200,000 2023 (900,000) 2024 1,500,000 For each year there were no deferred income taxes and the tax rate was 25%. No valuation account was deemed necessary for the deferred tax asset as of December 31, 2023. What was Clinton's income tax expense in 2024?

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