Checklist tems The following information relates to Franklin Freightways for its first year of operations (data in millions of dollars): Pretax accounting income: Pretax accounting income included: Overweight fines (not deductible for tax purposes) 5 Depreciation expense 70 Taxable Income included: Depreciation in the tax retum 110 $ 195 The applicable tax rate is 25%. There are no other temporary or permanent diff Franklin Freightways should have recorded (S in millions ORCH 38888