The following table lists several items that represent differences between book and tax income or between book and tax basis of assets and liabilities. For each item, indicate if it is a temporary difference, and, if so, whether the item will be taxable or deductible in future years for purposes of computing deferred taxes.

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Item 1. Goodwill of $20,000 exists on the financial statement that is being deducted over 15 years for tax purposes. Tem Tax pora able ry (de diffe duct renc ible e )