Net Operating Loss Carryback and Carryforward. Assume that the Kenneth Parks Company anticipates that corporate tax rates will decline in future years, and, therefore, elects to forgo the carryback...

Net Operating Loss Carryback and Carryforward. Assume that the Kenneth Parks Company anticipates that corporate tax rates will decline in future years, and, therefore, elects to forgo the carryback and to instead carry the net operating loss forward. Calculate the company’s tax benefit in the future years assuming no change in tax rates.