Mountin Air Co. began operations in 2021 and the reconciliation for tax purposes shows: Accounting income $200.000 Permanent differences 50,000 Temporary differences (80.000) Taxable income $170.000 The tax rate for 2021 was 20%. In December 2021 a new 30% tax rate was enacted for future years beginning in 2022. QUESTION What is the current tax expense for 2021? Select one: O a $34,000 Ob. $40,000 Oc. $51,000 Od $60,000 Question 9 Hotel wered Marked out of 200 On January 1, 2021 Regal Co. received $30,000 in rent from a tenant for 3 years - 2021 2022. and 2023. The entire amount was taxed when received in 2021 but the amount is earned equally over the 3 years for accounting purposes. The tax rate in 2021 is 25% and a new tax rate of 20% was enacted in December 2021 for Future years beginning in 2022. Flag Question QUESTION On December 31, 2021, the balance sheet for Regal Co. would show what amount for Deferred Tax? Select one: O a Deferred tax liability for $4,000 Ob Deferred tax asset for $4,000 Oc Deferred tax asset for $5.000 Od Deferred tax liability for $5,000