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5. Lehman Corporation purchased a machine on January 2, 2019, for $4,000,000. The machine has an estimated 5-year life with no salvage value. The straight-line method of depreciation is being used for financial statement purposes and the following MACRS amounts will be deducted for tax purposes: 2019 $800,000 2022 S460,000 2020 1,280,000 2022 460,000 2021 768,000 2023 232.000 Assuming an income tax rate of 30% for all years, the net deferred tax liability that should be reflected on Lehman's balance sheet at December 31, 2020 be a $144,000 b. S134,400 c. $9.600 d. SO Use the following information for questions through 8. Mathis Co. at the end of 2019, its first year of operations, prepared a reconciliation between pretax financial income and taxable income as follows: Pretax financial income $ 1,200,000 Estimated litigation expense 3,000,000 Installment sales (2.400.000) Taxable income S1800.000 The estimated litigation expense of $3,000,000 will be deductible in 2021 when it is expected to be paid. The gross profit from the installment sales will be realized in the amount of $1,200,000 in each of the next two years. The estimated liability for litigation is classified as noncurrent and the installment accounts receivable are classified as $1,200,000 current and $1,200,000 noncurrent. The income tax rate is 30% for all years. 6. The income tax expense is a $360,000 b. $540,000 c. $600,000 d. $1,200,000 The deferred tax asset to be recognized is a. SO. b. $180,000 curreo c. $900,000 suurcat. d. $900,000 poncuccot 7. 8. The deferred tax liability to be recognized is a $180,000. b. $540,000 c. $720,000 d. S360,000