The information below pertains to Mondavi Corporation: (a.) At the end of the current year temporary differences existed between the financial statement carrying amounts and the tax basis as follows:

	Carrying Amount	Tax Basis	Future Taxable or (Deductible) Amount
Buildings and equipment	$60,000,000	$45,000,000	$15,000,000
Prepaid insurance	1,000,000	0	1,000,000
Liability-loss contingency	10,000,000	0	(10,000,000)

(b.) No temporary differences existed at the beginning of the year. (c.) Pretax accounting income was $150,000,000 and taxable income was $120,000,000 for the year and the tax rate is 40%.

The total amount of permanent differences is:

A. $24 million of untaxed income
B. $6 million of net excess deductions
C. $9.6 million of untaxed income
D. $24 million of nondeductible expenses
E. Cannot be determined with the given information
F. None of the other answer choices are correct