P4. Temporary Differences, Deferred Tax Assets and Liabilities, Realizability of Deferred Assets, Change in Tax Rate. The following information is available for the first 4 years of operations for Shooting Star Corporation: Taxable Income (incorporates all information presented) Enacted Tax Rate (%) Year $200,000 2018 40% 2019 132,000 40 110,000 2020 40 2021 120,000 40 On January 2, 2018, the firm acquired heavy equipment costing $200,000 in a cash transaction. The equip- ment had a useful life of 5 years and no scrap value. The firm used the straight-line method of depreciation for book purposes; see the following for the tax depreciation taken each year: Tax Depreciation 2018 2019 2020 2021 Total $66,000 $90,000 $30,000 $14,000 $200,000 On January 2, 2019, the firm collected $120,000 in advance for rental of a building for a 3-year period. The firm reported the entire $120,000 as taxable income in 2019, but $80,000 of the advance collection was unearned at December 31, 2019. The $80,000 was earned evenly over the next 2 years (i.e., 2020 and 2021) Required a. Determine the balance of the deferred tax accounts at the end of 2021 b. Repeat requirement (a) assuming that a newly enacted tax law increased the corporate tax rate to 43%, effective the beginning of 2019