In Year $1,$ Explorers Inc. completed installment sales of $$80,000,$ recorded in full as accounts receivable and as

revenue. For tax purposes, it recognizes income when cash is received. Cash related to the installment sales is

expected to be received in the following years: Year $2$ of $$10,000$; Year $3$ of $$40,000$; Year $4$ of $$30,000.$ The en$-$

acted tax rate for Year $1,$ Year $2,$ and Year $3$ is $25\%.$ The newly enacted tax rate for Year $4$ is $40\%.$ Compute the

value of the deferred tax liability on December $31$ of Year $1.$