In 2020 tax return, Madison Company has taken a position in its tax return to claim a tax credit of $60 million (direct reduction in taxes payable) and has determined that its sustainability is "more likely than not," based on its technical merits. The tax credit would be a direct reduction in current taxes payable. Madison believes the likelihood that a $60 million, $36 million, or $12 million tax benefit will be sustained is 25%, 30%, and 45%, respectively. Madison's taxable income is $520 million for the year. Its effective tax rate is 25%. Required: A. How much is the tax benefits that Madison would recognize in 2020? B. Make journal entry to record the tax expense given your answer in A