Refer to the income tax rate structure in the preceding problem. Company K incurs a $22,000 deductible expense. Compute the current year tax savings from the deduction assuming that:
a. Company K’s taxable income before considering the additional deduction is $65,000.
b. Company K’s taxable income before considering the additional deduction is $168,000.
c. Company K has a $4,000 loss before considering the additional deduction.