The following information relates to Franklin Freightways for its first year of operations (data in millions of dollars): Pretax accounting income: $170 Pretax accounting income included: Overweight fines (not deductible for tax purposes) 7 Depreciation expense 79 Depreciation in the tax return using MACRS: 130 The applicable tax rate is 25%. There are no other temporary or permanent differences. Franklin's taxable income ($ in millions) is: Franklin's taxable income ($ in millions) is: Multiple Choice $51. $130. $119. $126