Before considering a net operating loss carryforward of $81 million, Fama Corporation reported $140 million of pretax accounting and taxable income in the current year. The income tax rate for all previous years was 31%. On January 1 of the current year, a new tax law was enacted, reducing the rate to 30% effective immediately. Fama's income tax payable for the current year would be: (Round your answer to the nearest whole million.) a. $108 million.
b. $37 million.
c. $39 million.

The cook corporation has two divisions--east and west. the divisions have the following revenues and expenses: east westsales $ 603,000 $ 506,000 variable costs 231,000 300,000 traceable fixed costs 151,500 192,000 allocated common corporate costs 128,600 156,000 net operating income (loss) $ 91,900 $ (142,000 )the management of cook is considering the elimination of the west division. if the west division were eliminated, its traceable fixed costs could be avoided. total common corporate costs would be unaffected by this decision. given these data, the elimination of the west division would result in an overall company net operating income (loss) of: multiple choice$91,900$(64,100)$(142,000)$(5 0,100)