At the beginning of 2021, Cullumber Co. purchased an asset for $2400000 with an estimated useful life of 5 years and an estimated salvage value of $162000. For financial reporting purposes the asset is being depreciated using the straight-line method; for tax purposes the double-declining-balance method is being used. Cullumber Co.s tax rate is 20% for 2021 and all future years. At the end of 2021, which of the following deferred tax accounts and balances is reported on Cullumbers balance sheet?

Account

Balance

Deferred tax asset

$102480

Deferred tax asset

$89520

Deferred tax liability

$102480

Deferred tax liability

$89520