Cost Accumulated Fair Market Tax Basis Depreciation Value (UCC) Inventory $80,000 n/a $80,000 $80,000 Accounts 100,000 n/a 100,000 100,000 Receivable Land 140,000 n/a 200,000 140,000 Buildings 250,000 plus the last 50,000 350,000 200,000 two digits of your student number Accounts Payable times 1,000 70,000 n/a 70,000 70,000 Deferred tax liability You will need to n/a calculate the existing deferred tax liability based on the calculated cost of the building.