Arndt, Inc. reported the following for 2021 and 2022 ($ in millions): Revenues 2021 $ 908 2022 Expenses 768 $ 988 804 Pretax accounting income (income statement) Taxable income (tax return) $ 140 $ 122 $ 184 $ 206 Tax rate: 25% a. Expenses each year include $36 million from a two-year casualty insurance policy purchased in 2021 for $72 million. The cost is tax deductible in 2021. b. Expenses include $2 million insurance premiums each year for life insurance on key executives. c. Arndt sells one-year subscriptions to a weekly journal. Subscription sales collected and taxable in 2021 and 2022 were $37 million and $39 million, respectively. Subscriptions included in 2021 and 2022 financial reporting revenues were $29 million ($14 million collected in 2020 but not recognized as revenue until 2021) and $37 million, respectively. Hint. View this as two temporary differencesone reversing in 2021; one originating in 2021. d. 2021 expenses included a $18 million unrealized loss from reducing investments (classified as trading securities) to fair value. The investments were sold and the loss realized in 2022. e. During 2020, accounting income included an estimated loss of $10 million from having accrued a loss contingency. The loss was paid in 2021, at which time it is tax deductible. f. At January 1, 2021, Arndt had a deferred tax asset of $6 million and no deferred tax liability.