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Rodd Co. reports a taxable and pretax financial loss of $800,000 for 2015. Rodd's taxable...

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Accounting

Rodd Co. reports a taxable and pretax financial loss of $800,000 for 2015. Rodd's taxable and pretax financial income and tax rates for the last two years were:

2013 $800,000 30%

2014 800,000 35%

The amount that Rodd should report as an income tax refund receivable in 2015, assuming that it uses the carryback provisions and that the tax rate is 40% in 2015, is

*answer is $240,000 I just dont know how to get it :)*

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