Blossom Co. has the following deferred tax liabilities at December 31, 2021:

Amount	Related to
$145000	Installment sales, expected to be collected in 2022
$350000	Fixed asset, 10-year remaining useful life, 2021 tax depreciation exceeds book depreciation
$88000	Prepaid insurance related to 2022

What amount would Blossom Co. report as a noncurrent deferred tax liability under IFRS and under GAAP?

IFRS

GAAP

$0

$495000

$583000

$350000

$583000

$583000

$350000

$350000

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