Before considering a net operating loss carryforward of $83 million, Fama Corporation reported $220 million of pretax accounting and taxable income in the current year. The income tax rate for all previous years was 36 %. On January 1 of the current year, a new tax law was enacted, reducing the rate to 26% effective immediately. Fama's income tax payable for the current year would be: (Round your answer to the nearest whole million.) o $42 million. o $36 million. o $49 million. o $109 million.