Required information The following information applies to the questions displaye

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Required information The following information applies to the questions displayed below.) MWC Corp. is currently in the sixth year of its existence (2017). In 2012-2016, it reported the following income and (losses) (before net operating loss carryovers or carrybacks) 2012: $ (83, 000) 2013: 2014: 2015 149, 000 2016: 2017: 400,000 (20,250) 64,500 (7,500) MWC always elects to forgo NOL carrybacks. c. What is its 2017 taxable income after the NOL deduction? What is its 2017 book-tax difference associated with its NOL? Is it favorable or unfavorable? Is it permanent or temporary? axable Income Book-tax Difference Favorable or Unfavorable Temporary or Permanent Year 2017

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Year Taxable income book-tax difference Favorable or unfavorable Temporatry of permanent 2017 392,500 7,500 Favorable Temporary

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