At the end of 2020, Payne Industries had a deferred tax asset account with a balance of $60 million attributable to a temporary book-tax difference of $240 million in a liability for estimated expenses. At the end of 2021, the temporary difference is $176 million. Payne has no other temporary differences and no valuation allowance for the deferred tax asset. Taxable income for 2021 is $432 million and the tax rate is 25%. Payne has a valuation allowance of $10 million for the deferred tax asset at the beginning of 2021. Prepare the journal entry(s) to record Payne’s income taxes for 2021, assuming it is more likely than not that the deferred tax asset will be realized.