Due to an error in computing depreciation expense, Prewitt Corporation overstated accumulated depreciation by $24 million as of December 31, 2024. Prewitt has a tax rate of 25%. Prewitt's retained earnings as of December 31, 2024, would be:

Note: Round million answer to 2 decimal places.

Multiple Choice

understated by $18.00 million.

overstated by $6.00 million.

overstated by $18.00 million.

understated by $6.00 million.