B Company reported a deferred tax liability of $$24$ million for the year ended December $31.2023,$ related to a temporary difference of $$60$ million. The tax rate was $25\%.$ The temporary difference is expected to reverse in $2025$ at which time the deferred tax liability will become payable. There are no other temporary differences in $2023-2025.$ Assume a new tax law is enacted in $2024$ that causes the tax rate to change from $25\%$ to $20\%$ beginning in $2025.($The rate remains $25\%$ for $2024$ taxes.$)$ Taxable income in $2024$ is $$100$ million.

Required:Determine the effect of the change and prepare the appropriate journal entry to record B$\text{'}$s income tax expense in $2024.$

$(5pts)$