The information below pertains to Mondavi Corporation:

1. (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	$	70,000,000		$	54,000,000		$	16,000,000
Prepaid insurance		2,000,000			0			2,000,000
Liability-loss contingency		11,000,000			0			(11,000,000	)

1. (b.) No temporary differences existed at the beginning of the year.

2. (c.) Pretax accounting income was $400,000,000 and taxable income was $130,000,000 for the year and the tax rate is 30%. Permanent differences are the cause of any difference between pretax accounting income and taxable income that are not due to temporary differences.

Required: Prepare the 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.)