Pennington Oil is in the 50% effective tax bracket. It had gross income of $470 million in each of the last 2 years. In the first year, deductions were $160 million. In the second year, deductions were lower at $120 million. The difference in income taxes paid by the company in the 2 years was closest to:

(a) $10 million

(b) $20 million

(c) $50 million

(d ) $40 million