Burns Ltd commenced business on 1 July 20X1. On 30 June 20X2, an extract of the statement of financial position prepared for internal purposes, but excluding the effect of income tax, disclosed the following information:

Assets		Liabilities
Cash	$40 000	Accounts payable	$80 000
Inventory	100 000	Long service leave	5 000
Plant	300 000
Accumulated depreciation	(30 000)

Additional information:

1. The plant was acquired on 1 July 20X1. Depreciation for accounting purposes was 10% (straight-line method), while 15% (straight-line) was used for tax purposes.
2. The tax rate is 30%.

The deferred tax asset is:

Select one:

a. $5 000

b. $4 500

c. $1 500

d. $25 500