On its tax return at the end of the year, 2019, Webnet Inc., using IFRS, has $6 million of tax amortization in excess of amortization in its income statement. A footnote reveals that $1 million of the $6 million difference will reverse itself the following year, and the remainder will reverse over the next 4 years. In the absence of other temporary differences, in the balance sheet at the end of the current year Webnet would report:

Select one:

a.

Both a current future tax asset and a noncurrent future tax asset.

b.

A noncurrent future tax asset.

c.

Both a current future tax liability and a noncurrent future tax liability.

d.

A noncurrent future tax liability.

e.

None of the above.