Aylmer has a corporate tax rate of 25%. There are two differences that have been identified: Assume that CCA (Capital Cost Allowance) for tax purposes was $23,000 more that straight-line depreciation calculated. Included in administrative expenses are golf club dues that total $12,250. There was no deferred tax liability or asset in 2020 or prior years. In the Excel spreadsheet, see the tab labelled Deferred Taxes to make any calculations, including an amortization schedule, to support journal entries. Note that there are assumptions in that tab follow the instructions in the tab carefully