Operating income and tax rates for Crane Company's first three years of operations were as follows: Income Enacted tax rate 2020 $ 280000 25% 2021 20% ($ 880000) $ 1560000 2022 30% Assuming that Crane Company opts only to carryforward its 2021 NOL, what is the amount of deferred tax asset or liability that Crane Company would report on its December 31, 2021 balance sheet? Amount Deferred tax asset or liability 0 0 $ 176000 Deferred tax liability o $ 176000 Deferred tax asset o $ 220000 Deferred tax liability $ 264000 Deferred tax asset