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Assuming that at the end of 20X3, its first year of operations, Tasha Company has only one type of temporary difference-a $20,000 taxable temporry

Assuming that at the end of 20X3, its first year of operations, Tasha Company has only one type oftemporary difference-a $20

Assuming that at the end of 20X3, its first year of operations, Tasha Company has only one type of temporary difference-a $20,000 taxable temporry difference that is expected to reverse at the rate of $5,000 per year in each of the years 20X4-20X7. If relevant, assume that no valuation allowance would be needed. Assuming a 34% tax rate, Tasha should report which of the following on its December 31, 20X3, balance sheet? A $1,700 deferred tax asset classified as current and a $5,100 deferred tax asset classified as noncurrent A A $1,700 deferred tax liability classified as current and a $5,100 deferred tax liability classified as noncurrent B A $6,800 deferred tax liability classified as current D A $6,800 deferred tax liability classified as noncurrent

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