Cross Company reported the following results for the year ended December $31,2014,$ its first year of operations:

Income $($per books before income taxes$)$

Taxable income

$$\frac{2014}{1,500,000}$

The disparity between book income and taxable income is attributable to a temporary difference which will reverse in $2015.$ What should Cross record as a net deferred tax asset or liability for the year ended December $31,2014,$ assuming that the enacted tax rates in effect are $40\%$ in $2014$ and $35\%$ in $2015?$

$$360,000$ deferred tax liability

$$315,000$ deferred tax asset

$$360,000$ deferred tax asset

$$315,000$ deferred tax liability