ABC corp began operations in 2014.  The table below contains the company’s taxable income during each year of its operations.  Notice that the company lost money in each of its first three years.  The corporate tax rate has been 40% each year.                   Year              Taxable Income                         2014                -$700,000                   2015                -$500,000                   2016                -$300,000                   2017                 $800,000                   2018                $1,000,000 Assume that the company has taken full advantage of the Tax Code’s carry-back, carry-forward provisions, and assume that the current provisions were applicable in 2014.  How much did the company pay in taxes during 2018?   $160,000 $176,400 $194,481 $185,220 $120,000

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