Travis Industries reported a deferred tax asset of $$10$ million for the year ended December $31,2023,$ related to a temporary difference of $$40$ million. The tax rate was $25\%.$ The temporary difference is expected to reverse in $2025$ at which time the deferred tax asset will reduce taxable income. There are no other temporary differences in $2023-2025.$ Assume a new tax law is enacted in $2024$ that causes the tax rate to change from $25\%$ to $20\%$ beginning in $2025.($The rate remains $25\%$ for $2024$ taxes.$).$ Taxable income in $2024$ is $$72$ million. Income tax expense in $2024$ for Travis would be:

$$18\mathrm{.}2$ million

$$20\mathrm{.}0$ million

$$16\mathrm{.}4$ million

$$16\mathrm{.}0$ million