Arnold industries has pretax accounting income of $$33$ million for the year ended December $312018.$ The tax rate is $40\%.$ the only difference between accounting income and taxable income relates to an operating $,$ease in which Arnold is the lessee. The inception of the lease was December $282018.$ An $$8$ million advance rent payment at the inception of the lease is tax$-$deductible in $2018$ but for financial reporting purposes, represents prepaid rent expense to be recognized equally over the four year lease term.

Determine the amounts necessary to record Arnold$$s income taxes for $201$ and prepare the appropriate journal entry.

Determine the amount necessary to Arnold$$s income taxes for $2019,$ and prepare the appropriate journal entry. Pretax accounting income was $$50$ million for the year ended December $312019$

Assume a new tax law is enacted in $2019$ that causes the tax rate to change from $40\%$ to $30\%$ beginning in $2020.$ Determine the amounts necessary to record Arnold$$s income taxes $2019,$ and prepare the appropriate journal entry.

Why is Arnold$$s $2019$ income tax expense different when the tax rate change occurs from what it would be without the change?