On 1 April 20X5 Alpha purchased 100% of the ordinary shares of Beta. The fair values of the assets and liabilities acquired were considered to be equal to their carrying amounts, with the exception of equipment, which had a fair value of $54 million. The tax base of the equipment on 1 April 20X5 was $50 million. The tax rate is 25% and the fair value adjustment does not affect the tax base of the equipment. Required Discuss how the above will affect the accounting for deferred tax under IAS 12 Income Taxes in the group financial statements of Alpha.