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1 8 23. In its 2018 income statement, TX Corp. reported depreciation of $3,700,000 and interest revenue on municipal obligations of $700,000. TX reported depreciation

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1 8 23. In its 2018 income statement, TX Corp. reported depreciation of $3,700,000 and interest revenue on municipal obligations of $700,000. TX reported depreciation of $5,200,000 on its 2018 income tax return. The difference in depreciation is the only temporary difference, and it will reverse equally over the next three years. TX's enacted income tax rates are 35% for 2018, 30% for 2019, and 25% for 2020 and 2021. What amount should be included in the deferred income tax liability in TX's December 31, 2018 balance sheet? a. $150,000 b. $300,000 c. $400,000 d. $675,000

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