In 2011,Bodily Corporation reported $300,000 pretax accounting income.The income tax rate that year was 30%.Bodily had an unused $120,000 net operating loss carryforward from 2009 when the tax payable rate was 40%. Bodily income tax payable for 2011 would be:
- $54,000
- $42,000
- $90,000
- $72,000