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A reconciliation of Tuba Corp's pretax accounting income with its taxable income for 2020, its first year of operations, is as follows: Pretax accounting income
A reconciliation of Tuba Corp's pretax accounting income with its taxable income for 2020, its first year of operations, is as follows: Pretax accounting income $6,000,000 Excess CCA (180,000) Taxable income $5,820,000 The excess CCA will result in equal net taxable amounts in each of the next three years. Enacted tax rates are 40% in 2020, 35% in 2021 and 30% in 2022 and 2023. The total deferred income tax liability to be reported on Tuba's balance sheet at December 31, 2020, is?
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