Prance, Inc., earned pretax book net income of $1,809,000 in 2020. Prance acquired a depreciable asset that year, and first-year tax depreciation exceeded book depreciation by $180,900. Prance reported no other temporary or permanent book-tax differences. The pertinent U.S. Federal corporate income tax rate is 21%, and Prance earned an after-tax rate of return on capital of 8%. Enter below Prance's 2020 deferred tax expense and any deferred tax asset or liability.

Balance Sheet

Deferred tax liability:

Income Statement

Deferred tax expense:

Prance's total tax expense will consist of the following:

Current tax expense:

Deferred tax expense:

Total tax expense: