Answer:
The answer is given below;
Explanation:
Site-cleanup costs $138,000,000
This will give rise to deferred tax asset of $138,000,000*20%=$27,600,000
Tax Depreciation excessive for the year=$9,660,000
Excess tax depreciation deducted in current year will give rise to deferred tax liability=$9,660,000*20%=$1,932,000
Current Tax Expense =$44,160,000
Deferred Tax During 2020 are;
Deferred Tax Asset $9,660,000
Deferred Tax Liability $1,932,000
Current Tax Expense $44,160,000
