Headland Co$.$ establishes a $$130,000,000$liability at the

end of $2017$ for the estimated site$-$cleanup costs at two of its

manufacturing facilities.All related closing costs will be paid and deducted on the tax

return in $2018.$Also, at the end of $2017,$ the company has $$65,000,000$of

temporary differences due to excess depreciation for tax purposes,

$$9,100,000$of which will reverse in $2018.$

The enacted tax rate for all years is $40\%,$ and the company pays

taxes of $$83,200,000$on $$208,000,000$of taxable income in

$2017.$ Headland expects to have taxable income in $2018.$Assuming that the only deferred tax account at the beginning of

$2017$ was a deferred tax liability of $$13,000,000,$ draft the income

tax expense portion of the income statement for $2017,$ beginning

with the line $$Income before income taxes.$($Hint:$$You must first compute $(1)$ the

amount of temporary difference underlying the beginning

$$13,000,000$deferred tax liability, then $(2)$ the amount of

temporary differences originating or reversing during the year, and

then $(3)$ the amount of pretax financial income.$)$