Nickerson corporation began operations

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Reference no: EM13923495

Nickerson Corporation began operations in 2013. There have been no permanent or temporary differences to account for since the inception of the business. The following data are available:

Year	Enacted Tax Rate	Taxable Income	Taxes Paid
2013	45%	$1,500,000	$675,000
2014	40%	1,800,000	720,000
2015	35%
2016	30%

In 2015, Nicker son had an operating loss of $1,860,000. What amount of income tax benefits should be reported on the 2015 income statement due to this loss assuming that it uses the carryback provision?

Reference no: EM13923495

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