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(5 points) Antpitta reported U.S. GAAP income before taxes of $4,046,000 and taxable income of $3,035,000 for 2020. The difference was caused by a temporary

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(5 points) Antpitta reported U.S. GAAP income before taxes of $4,046,000 and taxable income of $3,035,000 for 2020. The difference was caused by a temporary difference that will reverse in 2021. How much should Antpitta report as the net deferred asset or liability for 2020, assuming the enacted tax rate was 35% in 2020 and 40% in 2021? (NIE 2) O $404,400 deferred tax liability $353,850 deferred tax asset $353,850 deferred tax liability O $404,400 deferred tax asset

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