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NOTE: QUESTIONS 12 & 13 SHARE THE SAME INFORMATION - NOTE THE QUESTION DIFFERENCE AT...

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NOTE: QUESTIONS 12 & 13 SHARE THE SAME INFORMATION - NOTE THE QUESTION DIFFERENCE AT THE END. For it's first three years of operations, Jumper Co. reported the following results: || 2020 income before taxes - $20,000 || 2021 loss before taxes - $(180,000) || 2022 income before taxes - $200,000 || Throughout these 3 years, there were no reversible or permanent differences. Jumper has a tax rate of 30% for 2020 and 2021, and 40% for 2022, and assume that any "deferred" tax asset recognized is "more likely than not to be realized". What income (loss) is reported for 2021 if Jumper elects to use the carryback provisions? O Loss of $180,000 0 Loss of $174,000 Los of $110,000 O $0

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