Hammaker corp. began operations in 2016 and reported taxable net income of $10 million and $4 million in 2016 and 2017, respectively. in 2018, hammaker reports a net operating loss (nol) of $16 million, and elects to carry back that nol to the extent possible. the tax rate for the years 2016 through 2018 is 35%, but the enacted tax rate for 2019 and later years will be 40%. as part of year-end adjusting entries, what total tax benefit will hammaker record as a result of the 2018 nol?

(a) $5,700,000
(b) $4,900,000
(c) $6,400,000
(d) $5,600,000