The following information comes from the 2024 Ocean Petroleum Corporation annual report to shareholders: NOTE 4 INVENTORIES Net carrying values of inventories valued under the LIFO method were approximately $186 million and $206 million on December 31 , 2024 and 2023 , respectively. Inventories consisted of the following: (\$ in millions) The LIFO reserve indicates that inventories would have been $57 million and $54 million higher at the end of 2024 and 2023 , respectively, if Ocean Petroleum had used FIFO to value its entire inventory. Required: If Ocean Petroleum had used FIFO to value its entire inventory how would its 2024 pre-tax income be affected