Lanthrop Transportation owns a fleet of 45 semi-trucks. The original cost of the fleet was At the end of fiscal year 2018, the GAAP book value of the fleet was $6,060,000, while the tax $8,550,000. Lanthrop uses straight-line depreciation for the fleet for accounting purposes, and book value was $5,410,000. Lanthrop's taxable income for fiscal year 2018 was $6,200,000. MACRS depreciation for tax purposes. The company had a deferred tax liability balance of Its tax rate was 40%. $210,000 at the end of fiscal year 2017 related to the fleet. Read the requirements. Requirement 1. Calculate the deferred tax liability related to the fleet as of the end of fiscal year 2018. The deferred tax liability as of the end of fiscal year 2018 is $ Requirement 2. Record the tax accrual for 2018 as of the end of fiscal year 2018. (Record debits first, then credits. Exclude explanations from any journal entries.) Journal Entry Accounts A Requirements Date Debit Credit 2018 Dec 31 1. Calculate the deferred tax liability related to the fleet as of the end of fiscal year 2018. 2. Record the tax accrual for 2018 as of the end of fiscal year 2018. Print Print Done Done