On January 1, Year 5, Holiday Corporation purchased a 100 percent interest in the common shares of Card Ltd. for $270,000. At this date, Card Ltd.'s balance sheet included the following: Assets Current liabilities Deferred tax liability Common shares Retained earnings Carrying Fair amount value Tax base $ 560,000 $ 600,000 $375,000 $360,000 $ 360,000 $360,000 $ 74,000 $ $ 50,000 $ $ 72,000 $ Assume that Holiday has a deferred tax liability of $98,000 on its January 1, Year 5, balance sheet. Both companies are subject to 40 percent income tax rates. If a consolidated balance sheet were prepared for Holiday immediately following the acquisition of Card Ltd. what would be reported for a deferred tax liability