lehman corporation purchased a machine on january


Lehman Corporation purchased a machine on January 2, 2011, for $2,000,000. The machine has an estimated 5-year life with no salvage value. The straight-line method of depreciation is being used for financial statement purposes and the following MACRS amounts will be deducted for tax purposes:
2011 $400,000 2014 $230,000
2012 640,000 2015 230,000
2013 384,000 2016 116,000
Assuming an income tax rate of 30% for all years, the net deferred tax liability that should be reflected on Lehman's balance sheet at December 31, 2012, should be
Deferred Tax Liability
Current Non-current
a. $0 $72,000
b. $4,800 $67,200
c. $67,200 $4,800
d. $72,000 $0

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Taxation: lehman corporation purchased a machine on january
Reference No:- TGS0401936

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