Arnold Industries has pretax accounting income of $$120$ million for the year ended December $31,2024.$ The tax rate is $25\%.$ The only difference between accounting income and taxable income relates to an operating lease in which Arnold is the lessee. The inception of the lease was December $28,2024.$ An $$96$ million advance rent payment at the inception of the lease is tax$-$deductible in $2024$ but, for financial reporting purposes, represents prepaid rent expense to be recognized equally over the four$-$year lease term.