TB MC Qu. 16-43 (Algo) Wayne Co. had a decrease in deferred tax liability...

Wayne Co. had a decrease in deferred tax liability of $32 million, a decrease in deferred tax assets of $22 million, and an increase in tax payable of $112 million. The company is subject to a tax rate of 25%. The total income tax expense for the year was:

Multiple Choice

• $102 million.

• $124 million.

• $122 million.

• $154 million.