During the current year, Collins Company reported a net operating loss of ( $ 1,200 ) on its tax return. The company's records also show a ( $ 25 ) reversal of part of a deferred tax liability. Collins's tax rate is ( 20 % ) for the current year and all future years. Collins is not in an industry that is eligible for the carry-back option

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During the current year, Collins Company reported a net operating loss of  (  $ 1,200  ) on its tax return. The company's records also show a  (  $ 25  ) reversal of part of a deferred tax liability. Collins's tax rate is  ( 20  %  ) for the current year and all future years. Collins is not in an industry that is eligible for the carry-back option, and expects to realize only  ( 60  %  ) of the carryforward. What amount of income tax benefit will Collins report in the current year?

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