45 Company C started business on January 1, 20X1, and bought the following piece of equipment. Cost of asset Salvage Useful life Tax rate 20X1 estimated tax payment $600,000 60,000 21% 12,000 Depreciation for book and tax purposes is as follows: Book Tax 20X1 108,000 240,000 20x2 108,000 144,000 20X3 108,000 86,400 20X4 108,000 51,840 20X5 108,000 17,760 20X1 Sales 1,086.000 20X1 Expenses = 652,000 Note: the above expenses do not include depreciation and taxes. What is the ending balance of deferred taxes payable-depreciation on the December 31, 20X1 balance sheet