Isaac Incorporated began operations in January 2024. For some property sales, Isaac recognizes income in the period of sale for financial reporting purposes. However, for income tax purposes, Isaac recognizes income when it collects cash from the buyer's installment payments. In 2024, Isaac had $681 million in sales of this type. Scheduled collections for these sales are as follows: 2024 $ 84 million 2025 138 million 2026 130 million 2027 163 million 2028 166 million $ 681 million Assume that Isaac has a 25% income tax rate and that there were no other differences in income for financial statement and tax purposes. Ignoring operating expenses and additional sales in 2025, what deferred tax liability would Isaac report in its year-end 2025 balance sheet?

$56 million

$115 million

$102 million

$124 million