Brown Corporation has a tax rate of 35% and uses the straight-line method of depreciation for its equipment. Tax legislation requires the company to depreciate its equipment using the following schedule: year 1 -50%, year 2-30%, year 3-15% and year 4-5%. At the beginning of 2006 Brown purchases a piece of equipment with a four-year life, with no residual value, and an original cost of $100,000.

What amount will Brown record as a deferred tax asset or liability at the end of 2006?