1. Omega Co. owns a piece of equipment. Based on the following facts, what is the appropriate 12/31/18 deferred tax balance on Omega's balance sheet with respect to this equipment?

   	12/31/18
   Original cost	$500,000
   Accumulated book depreciation	$100,000
   Accumulated tax depreciation	$300,000
   Applicable income tax rate	30%

   		$30,000 deferred tax asset
   		$60,000 deferred tax asset
   		$30,000 deferred tax liability
   		$60,000 deferred tax liability