$\text { A corporation had the following earnings and loss record for the years } 1997 \text { through 2002: }$

$\text { A corporation had the following earnings and loss record for the years } 1997 \text { through 2002: }$
$\begin{array}{cc}1997 & \$ 200,000 \\1998 & 100,000 \\1999 & 100,000 \\2000 & (800,000) \\2001 & 200,000 \\2002 & 300,000\end{array}$
-If the corporation in Figure 2.1 had a 40 percent tax rate for all years, they received a tax refund in2000 in the amount of

A) $80,000
B) $240,000
C) $480,000
D) $320,000