Osborne buys an asset for $150,000 at the start of the financial year. The asset has an estimated life of 6 years and an estimated residual value of $30,000. Capital allowances are available at a rate of 25% reducing balance and the tax rate is 20%. Calculate the deferred tax asset/liability to appear in the statement of financial position for the next three years and the debit/credit charged to the tax expense in the statement of profit or loss for the same period