A reconciliation of Gentry Company's pretax accounting income with its taxable income for 2018, its first year of operations, is as follows:

Pretax accounting income $4,500,000

Excess tax depreciation (225,000)

Taxable income $4,275,000

The excess tax depreciation will result in equal net taxable amounts in each of the next three years. Enacted tax rates are 40% in 2018, 35% in 2019 and 2020, and 30% in 2021. The total deferred tax liability to be reported on Gentry's balance sheet at December 31, 2018, is