At the end of year 6, the tax effects of temporary differences reported in Tortoise Company's year-end financial statements were as follows.

	Deferred Tax Assets (Liabilities)
Accelerated tax depreciation		($120,000)
Warranty expense		80,000
NOL carryforward		200,000
Total		$160,000

A valuation allowance was not considered necessary. Tortoise anticipates that $40,000 of the deferred tax liability will reverse in year 7, that actual warranty costs will be incurred evenly in year 8 and year 9, and that the NOL carryforward will be used in year 7. On Tortoises December 31, year 6 balance sheet, what amount should be reported as a deferred tax asset under U.S. GAAP?

$160,000

$200,000

$240,000

$280,000