On December 31, 2020, Delta Inc. recorded \(\$ 28,000\) of deferred revenue (a liability) on customer deposits received in advance of the satisfaction of performance obligations. However, this amount is taxable in 2020 when cash was received. Assume a tax rate of \(25 \%\) and pretax GAAP income of \(\$ 160,000\) for 2020.

a. Determine the GAAP basis of deferred revenue on December 30, 2020.

b. Determine the tax basis of deferred revenue on December 30, 2020.

c. Determine Delta Inc.'s deferred tax asset balance on December 31, 2020.