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At the beginning of 2019, Toms Retail had a deferred tax asset account due to...

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Accounting

At the beginning of 2019, Toms Retail had a deferred tax asset account due to a temporary book-tax difference of $160 million in a liability for estimated expenses. Taxable income for 2019 is $100 million and the tax rate is 25%. At the end of 2019, Toms Retail also realized that only quarter of deferred tax assets can be eventually realized. What will Toms Retails income tax expense be for 2019?

a.

None of the choices are correct.
b.

$45 million
c.

$35 million
d.

$55 million
e.

$25 million

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