On January 1, 2013, Ameen company purchased a building for $42 million. Ameen uses straight-line depreciation for financial statement reporting and MACRS for income tax reporting. At December 31, 2015, the book value of the building was $36 million and its tax basis was $26 million. At December 31, 2016, the book value of the building was $34 million and its tax basis was $19 million. There were no other temporary differences and no permanent differences. Pretax accounting income for 2016 was $30 million.

Requirement:

Prepare the appropriate journal entry to record Ameens 2016 income taxes. Assume an income tax rate was 40%

What is Ameens 2016 net income?