1. 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 carry forward from 2009 when the tax payable rate was 40%.Bodily income tax payable for 2011 would be
a. ($54,000)
b. ($42,000)
c. ($90,000)
d. ($72,000)