In 2023, INSTAG Ltd. hаd repоrted а deferred tаx asset оf $122 milliоn with no valuation allowance. At December 31, 2024, the account balances of INSTAG showed a deferred tax asset of $160 million before assessing the need for a valuation allowance and income taxes payable of $88 million. INSTAG determined that it was more likely than not that 30% of the deferred tax asset ultimately would not be realized. INSTAG made no estimated tax payments during 2024. What amount should INSTAG report as Income Tax Expense in its 2024 income statement? Note: Round your calculations to the nearest whole million.