At the start of the current year, SBC Corp. purchased 25% of Sky Tech Inc. for $48 million. At the time of purchase, the carrying value of Sky Tech's net assets was $76 million. The fair value of Sky Tech's depreciable assets was $12 million in excess of their book value. For this year, Sky Tech reported a net income of $76 million and declared and paid $12 million in dividends. The total amount of additional depreciation to be recognized by SBC over the remaining life of the assets is:

Multiple Choice

• $12 million.

• $3.0 million.

• $22 million.

• None of these answer choices are correct.