During the current year, a company had pretax accounting income of $70 million. The only difference between pretax accounting income and taxable income for the year was rent received in advance by the company in the amount of $12 million. The rent will be earned for financial accounting purposes next year. The tax rate is 35%. Income tax payable for the current year is: (Click to select] $28.70 million $36.50 million $20.30 million $82.00 million