Required information [The following information applies to the questions displayed below] Arndt, Incorporated reported the following for 2024 and 2025 ($ in millions): Revenues 2024 2025 Expenses $888 $980 Pretax accounting income (income statement) 760 800 Taxable income (tax return) $128 $180 Tax rate: 25% $116 $200 Tax rate: 25% a. Expenses each year include $30 million from a two-year casualty insurance policy purchased in 2024 for $60 million. The cost is tax deductible in 2024. b. Expenses include $2 million insurance premiums each year for life insurance on key executives. c. Arndt sells one-year subscriptions to a weekly journal. Subscription sales collected and taxable in 2024 and 2025 were $33 million and $35 million, respectively. Subscriptions in