In its first year of operations, Woody Corporation had pretax accounting income of $400 million for the current year. Depreciation reported in the tax return in excess of depreciation in the income statement was $60 million. The excess tax will reverse evenly over the next three years. The current year's tax rate is 25%, and it will increase to 30% next year and 35% for the subsequent years. At the end of the current year, the deferred tax liability related to the excess depreciation will be: a. $24 milion b. $15 million c. $21 milion d. $20 million e. $18 million