Analysis of the assets and liabilities of Baxter Corp on December 31 . 2014, disclosed assets with a tax basis of $1,000,000 and a book basis of $1,300,000 . There was no difference in the liability basis. The difference in asset basis arose from temporary differences that would reverse in the following years: 2015 ............................ $80,000 2016 ............................ 70,000 2017
............................ 72,000 2018 ............................ 40,000 2019 ............................ 38,000 The enacted tax rates are 30 percent for the years 2014-2017 and 35 percent for 2018-2019 . The total deferred tax liability on December 31 . 2014, should be
a. $105,000.
b. $93,900.
c. $90,000.
d. $69,000.
B
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