Lehman Corporation purchased a machine on January 2, 2017, for $4,000,000. The machine has an estimated 5-year life with no salvage value. The straight-line method of depreciation is being used for financial statement purposes and the following MACRS amount will be deducted for tax purposes:

2017 $800,000. TAX RATE 30%

Assuming 2017 revenue is $2,500,000 please provide journal entry to record income tax expense, income tax payable and the deferred tax asset or liability.