On January $1,2021,$ Ameen Company purchased major pieces of manufacturing equipment for a total of $$74$ million. Ameen uses straight$-$line depreciation for financial statement reporting and MACRS for income tax reporting. At December $31,2023,$ the book value of the equipment was $$68$ million and its tax basis was $$58$ million. At December $31,2024,$ the book value of the equipment was $$66$ million and its tax basis was $$51$ million. There were no other temporary differences and no permanent differences. Pretax accounting income for $2024$ was $$45$ million.

Required:

$1.$ Prepare the appropriate journal entry to record Ameen$$s $2024$ income taxes. Assume an income tax rate of $25\%.$

$2.$ What is Ameen$$s $2024$ net income?

Prepare the journal entry$($s$)$ to record income taxes, assuming it is more likely than not that three$-$fourths of the deferred tax asset will not ultimately be realized.