Due to an error in computing depreciation expense, Crote Corporation understated accumulated depreciation by $52 million as of December 31, 2024. Crote has a tax rate of 20%. Crote's retained earnings as of December 31, 2024, would be:

Note: Round million answer to 2 decimal places.

Multiple Choice

understated by $41.60 million.

overstated by $41.60 million.

understated by $52.00 million.

overstated by $52.00 million.