Mascis Co purchased a machine on January 2, 2017, for $2,000,000. For financial reporting purposes, Mascis will use the straight-line method of depreciation, over 5 years, with no salvage value for tax purposes, depreciation will follow the MACRS system, with deductions as follows: 2017 2018 2019 2020 2021 2022 $400.000 640,000 384.000 230,000 230.000 116.000 Assume Mascis has an income tax rate of 25% for all years and no other book-tax differences Which of the following statements is correct? At December 31, 2017, Mascis has a deferred tax liability of $100,000 For 2017, Mascis has deferred tax expense of $100,000 At December 31, 2018, Mascis has a deferred tax asset of $60,000 For 2018, Mascis has deferred tax expense of $60,000