On December 31, 2021, Smiley Corporation collected $22,000 for 2022 rent. Additionally, Smiley is able to record additional MACRS depreciation of $16,000 for tax purposes in 2021, which is expected to reverse next year. Pretax accounting income for 2021 was $70,000, which included a deduction of $11,000 in pollution fines. Smileys tax rate is 20% for all years, and there are no deferred taxes at the beginning of 2021.