For its first year of operations Woody Corporation had the following data: Income Statement Tax Return Depreciation expense $10,000 $30,000 Income before taxes $200,000 $180,000 Woody's tax rate is 30%. Woody has not made any payments for income taxes during the year. Assuming no other differences between tax and accounting income, what should Woody Corporation report as its deferred tax liability at the end of its first year of operations? a: 56,000 b. $20,000 O c. $14,000 O d. 560,000 O. 554,000