Question: What are the LIFO liquidation profits in year 3 both pretax and after tax?

The following inventory note appears in General Electric's Year 3 annual report General Electric Company Year 3 Year 2 (millions of dollars) Raw materials and work in process 4,894 S 4,708 Finished goods 4,379 3,951 Unbilled shipments 372 312 9,645 8,972 Less revaluation to LIFO s 9,039 s 8,295 LIFO revaluations decreased S70 million in Year 3, compared with decreases of S169 million in Year 2 and $82 million in Year 1. Included in these changes were decreases of $21 million, $8 million and $6 million in Year 3, Year 2 and Year 1, respectively that resulted from lower LIFO inventory levels. There were net cost decreases in each of the last three years. GE's earnings before income taxes were S18.891 billion in Year 3. Assume a 35% marginal tax rate