DeMaria Corporation, a calendar year corporation, generates the following taxable income (net operating losses) since its inception in 2016: Year Taxable result 2016 40,000 2017 (15,000) 2018   (5,000) 2019   6,000 Assuming Demaria makes no special elections with regard to NOLs, what is DeMaria's net operating loss carryforward into 2020? $

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A: calculation of taxable income and tax rate are as follows.

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A: Given that: Net Operating Loss in 2021 = $480,000 Tax rate = 29%

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