For its first taxable year, rony inc.’s accounting records showed the following: operating loss per books $ (800,000 ) temporary book/tax difference 90,000 net operating loss for tax $ (710,000 ) for its second taxable year, rony inc.’s accounting records showed the following: net income before tax $ 1,200,000 reversal of year 1 book/tax difference (90,000 ) taxable income before nol deduction $ 1,110,000 nol deduction (710,000 ) taxable income $ 400,000 use a 21 percent rate to compute rony’s tax expense for financial statement purposes for the second tax year. use a 21 percent rate to compute rony’s tax payable for the second tax year. compute rony’s reduction in its deferred tax assets for the second tax year.