In 2020, Rocket Inc. had reported a deferred tax asset of $154 million with no valuation allowance. At December 31, 2021, the account balances of Rocket showed a deferred tax asset of $200 million before assessing the need for a valuation allowance and income taxes payable of $96 million. Rocket determined that it was more likely than not that 30% of the deferred tax asset ultimately would not be realized. Rocket does not have any deferred tax liability at the beginning or ending of the year 2021. Rocket made no estimated tax payments during 2021. What amount should Rocket report as income tax expense in its 2021 income statement? (Round your calculations to the nearest whole million.)

Multiple Choice

$96 million

$58 million

$110 million

$148 million