WorldWest Inc. reported a pretax book operating loss of $120 million in 2020, including: - $50 million from installment sales of property. The installment sales will be collected, and therefore, taxable, in 2021: - 10 million in expenses due to violations of the law that was paid in 2020. There were no other permanent or temporary differences. Taxable income in WorldWest’s two previous years of operations was $90 million in 2018 and $20 million in 2019. WorldWest elects the carryforward option when calculating its taxes. The enacted tax rate is 25%. The balance of the deferred tax asset at the end of 2020 is:

a. $12.5 million 

b. $40 million 

c. $42.5 million 

d. $30 million