In year $20$X$1,$ Long Leaf Pine Co$.$ had a net operating loss of $$500,000.$ In $20$X$2,$ the company had taxable income of $$300,000.$ The

corporate tax rate is $30\%$ in both years. If the company chooses to carry forward its NOL, how much will be used in $20$X$2,$ and what will

be the remaining NOL available for future years?

$$200,000$ will be used in $20\backslash$times $2,$ with $$300,000$ remaining for future years.

$$500,000$ will be used in $20\backslash$times $2,$ with $$0$ remaining for future years.

$$0$ will be used in $20\backslash$times $2,$ with $$500,000$ remaining for future years.

$$300,000$ will be used in $20\backslash$times $2,$ with $$200,000$ remaining for future years.

Attempts: $0$ of $3$ used