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sondgeroth Inc. reports the following pretax income (loss) for both financial reporting purposes and tax purposes. (assume the carryback provision is...

sondgeroth Inc. reports the following pretax income (loss) for both financial reporting purposes and tax purposes. (assume the carryback provision is used for a net operating loss.)

year Pretax Income(loss) Tax rate
2009 $110,000 34%
2010 90,000 34%
2011 (260,000) 38%
2012 220,000 38%

The tax rates listed were all enacted by the beginning of 2009.

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