On january 1, 2013, ameen company purchased a building for $36 million. ameen uses straight-line depreciation for financial statement reporting and macrs for income tax reporting. at december 31, 2015, the book value of the building was $30 million and its tax basis was $20 million. at december 31, 2016, the book value of the building was $28 million and its tax basis was $13 million. there were no other temporary differences and no permanent differences. pretax accounting income for 2016 was $45 million. prepare the appropriate journal entry to record ameen’s 2016 income taxes. assume an income tax rate of 40%. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field. enter your answers in millions (i. e., 10,000,000 should be entered as

The new york times (nov. 30, 1993) reported that “the inability of opec to agree last week to cut production has sent the oil market into turmoil . . [leading to] the lowest price for domestic crude oil since june 1990.” why were the members of opec trying to agree to cut production? so they could save more oil for future consumption so they could lower the price so they could raise the price why do you suppose opec was unable to agree on cutting production? because each country has a different production capacity because each country experiences different production costs because each country has an incentive to cheat on any agreement the newspaper also noted opec’s view “that producing nations outside the organization, like norway and britain, should do their share and cut production.” what does the phrase “do their share” suggest about opec’s desired relationship with norway and britain? opec would like norway and britain to keep their production levels high. opec would like norway and britain to act competitively. opec would like norway and britain to join the cartel.