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Jasper Orange Co's trial balance at 3 1 December 2 0 X 3 shows a debit balance of $ 7 0 0 , 0 0

Jasper Orange Co's trial balance at 31 December 20X3 shows a debit balance of $700,000 on current tax and a credit balance of $8,400,000 on deferred tax. The directors have estimated the provision for income tax for the year at $4.5 million and the required deferred tax provision is $5.6 million, $1.2 million of which relates to a property revaluation. What is the tax liability recognised in Jasper Orange Co's statement of financial position for the year ended 31 December 20X3?
A. $1 million
B. $2.4 million
C. $1.2 million
D. $3.6 million

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