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The following information relates to Franklin Freightways for its first year of operations (data in millions of dollars) $1,027 Pretax accounting income: Pretax accounting income

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The following information relates to Franklin Freightways for its first year of operations (data in millions of dollars) $1,027 Pretax accounting income: Pretax accounting income included: Overweight fines (not deductible for tax purposes) Depreciation expense Depreciation in the tax return 5 150 510 The applicable tax rate is 25%. There are no other temporary or permanent differences. Which of the following must Franklin Freightways disclose related to the income tax expense reported in the income statement ($ in millions)? Multiple Choice O Both the current portion of the tax expense of $168 and the deferred portion of the tax expense of $90. Only the current portion of tax expense of $360 ooo None of these answer choices are correct Only the total tax expense of $450

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