Before considering a net operating loss carryforward of $89 million, Fama Corporation reported $240 million of pretax accounting and taxable income in the current year. The income tax rate for all previous years was 34%. On January 1 of the current year, a new tax law was enacted, reducing the rate to 29% effective immediately. Fama's income tax payable for the current year would be: (Round your answer to the nearest whole million.) Multiple Choice $112 million. $51 million. $52 million. $44 million