XYZ Inc. uses LIFO. In its notes to financial statements, th…

XYZ Inc. uses LIFO. In its notes to financial statements, the company reported the following: LIFO reserve at the end of 2024 as $50,000. LIFO reserve at the end of 2023 as $30,000.   If the tax rate for XYZ Inc. was 21%, how much taxes have been saved or lost by the company by using LIFO during 2024? Specify whether saved or lost and the $ amount.