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Business, 24.10.2019 01:00 Backfire3607

Before considering a net operating loss carryforward of $74 million, fama corporation reported $210 million of pretax accounting and taxable income in the current year. the income tax rate for all previous years was 38%. on january 1 of the current year, a new tax law was enacted, reducing the rate to 27% effective immediately. fama's income tax payable for the current year would be: (round your answer to the nearest whole million.)

$108 million.
$37 million.
$39 million.

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