At December 31, DePaul Corporation had a $22 million balance in its deferred tax asset account and a $170 million balance in its deferred tax liability account. The balances were due to the following cumulative temporary differences: 1. Estimated warranty expense, $25 million expense recorded in the year of the sale, tax deductible when paid (one-year warranty) 2. Depreciation expense, $250 million straight-line in the income statement: MACRS on the tax return 3. Income from installment sales of properties, $175 million income recorded in the year of the sale, taxable when received equally over the next five years. 4. Rent revenue collected in advance. $30 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.) Answer is complete but not entirely correct. Net deferred tax liability $ 156 million