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At December 31, DePaul Corporation had a $16 million balance in its deferred tax asset account and a $142 million balance in its deferred tax liability account. The balances were due to the following cumulative temporary differences: 1. Estimated warranty expense, $20 million: expense recorded in the year of the sale; tax-deductible when paid (one-year warranty). 2. Depreciation expense, $230 million: straight-line in the income statement; MACRS on the tax return. 3. Income from installment sales of properties, $125 million: income recorded in the year of the sale; taxable when received equally over the next five years. 4. Rent revenue collected in advance, $20 million; taxable in the year collected; recorded as income when the performance obligation is satisfied in the following year. Required: Assuming DePaul will show a single noncurrent net amount in its December 31 balance sheet, indicate that amount and whether it is a net deferred tax asset or liability. The tax rate is 40%. Determine the deferred tax amounts to be reported in the December 31 balance sheet. The tax rate is 40 %. ( Enter your answers in millions.) Net deferred tax liability million