the following information relates to franklin freightways for its first year of operations (data in millions of dollars): pretax accounting income: $ 300 pretax accounting income included: overweight fines (not deductible for tax purposes) 6 depreciation expense 64 depreciation in the tax return using macrs: 112 the applicable tax rate is 25%. there are no other temporary or permanent differences. franklin's taxable income ($ in millions) is:
