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Ayres Services acquired an asset for $ 1 5 2 million in 2 0 2 4 . The asset is depreciated for financial reporting purposes

Ayres Services acquired an asset for $152 million in 2024. The asset is depreciated for financial reporting purposes over four years on a straight-line basis (no residual value). For tax purposes the assets cost is depreciated by MACRS. The enacted tax rate is 25%. Amounts for pretax accounting income, depreciation, and taxable income in 2024,2025,2026, and 2027 are as follows: ($ in millions)2024202520262027 Pretax accounting income $ 375 $ 395 $ 410 $ 445 Depreciation on the income statement 38383838 Depreciation on the tax return (58)(54)(24)(16) Taxable income $ 355 $ 379 $ 424 $ 467 Required: For December 31 of each year, determine (a) the cumulative temporary book-tax difference for the depreciable asset and (b) the balance to be reported in the deferred tax liability account. Note: Leave no cell blank, enter "0" wherever applicable. Enter your answers in millions rounded to 2 decimal places (i.e.,5,500,000 should be entered as 5.50).

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