On June 30, 2018, Buttfuski Corporation prepaid a $59,000 premium on an annual insurance policy. The

premium payment was a tax-deductible expense in Buttfuskis tax return in 2018. The accrual basis income

statement will report $29,500 insurance expense in 2018 and 2019. The income tax rate is 30% in 2018 and

25% thereafter. In Buttfuskis December 31, 2018 balance sheet, what amount related to insurance should

be reported as a deferred income tax liability?