How do you figure what the deferred tax liabilty is?

genow.com/ilm/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress-... of eBook Problem 3-12 (1.0.1, 4) Prance, Inc., earns pretax book net income of $800,000 in 2019. Prance acquires a depreciable asset that year, and first-year tax depreciation exceeds book depreciation by $80,000. Prance reported no other temporary or permanent book-tax differences. The pertinent U.S. Federal corporate income tax rate is 21%, and Prance eams an after-tax rate of return on capital of 8%. Enter below the Prance's 2019 deferred tax expense and any deferred tax asset or liability, Balance Sheet Deferred tax liability Income Statement Deferred tax expense 16,800 Prance's total tax expense will consist of the following: Current tax expense Deferred tax expense 151,200 16,800 Total tax expense 168,000 Check My Work Previous