Patterson Industries reported a deferred tax asset of $9 mi illion for the year ended December 31, 2022, related to a temporary difference of $30 million. The tax rate was 30%. The temporary difference is expected to reverse in 2024 at which time the deferred tax asset will reduce taxable income. There are no other temporary differences in 2022-2024. Assume a new tax law is enacted in 2023 that causes the tax rate to change from 30% to 20% beginning in 2024. (The

rate remains 30% for 2023 taxes.) Taxable income in 2023 is $90 million. Income tax expense in 2023 for Patterson would be

0 $30 milion

O $33 million

$26 million

O $24 million.