in 2021, Jameson Services reported a deferred tax asset of $90 million with no valuation allowance. At Dec. 31, 2022, the account balances of Jameson Services showed a deferred tax asset of $100 million before assessing the need for a valuation allowance and income taxes payable of $60 million. Jameson determined that it was more likely than not that 25% of the deferred tax asset ultimately would not have been realized. Jameson made no estimated tax payments during 2022. What amount should Jameson report as income tax expense in its 2022 income statement?

1. 75 Million

2. 60 Million

3. 95 Million

4. 50 million