Clinton Corp. had the following pretax income (loss) over its first three years of operations: 

2016 $ 1,200,000 

2017 (900,000) 

2018 1,500,000 

For each year there were no deferred income taxes and the tax rate was 40%. For its 2017 tax return, Clinton did not elect a net operating loss carryback. No valuation account was deemed necessary for the deferred tax asset as of December 31, 2017. 

What was Clinton's income tax expense in 2018?

Answer rating: 100% (QA)

Sinceclinton did not elect a met ope rating loss Carerybock so c... View the full answer