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

Carrying Amount	Tax Basis	Future Taxable or (Deductible) Amount
Buildings and equipment	$62,000,000	$46,800,000	$15,200,000
Prepaid insurance	1,200,000	0	1,200,000
Liability-loss contingency	10,200,000	0	(10,200,000)

(b.)	No temporary differences existed at the beginning of the year.
(c.)	Pretax accounting income was $320,000,000 and taxable income was $122,000,000 for the year and the tax rate is 40% Prepare one journal entry to record the tax provision for the current year. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)