Prance, Inc., earned pretax book net income of $800,000 in 2021. Prance acquired a depreciable asset that year, and first-year tax depreciation exceeded book depreciation by $80,000. 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 4%. Enter below Prance's 2021 deferred tax benefit or expense and any deferred tax asset or liability.

Balance Sheet

Deferred tax liability $fill in the blank 1

Income Statement Deferred tax expense $fill in the blank 2

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

Current tax expense $fill in the blank 3

Deferred tax expense fill in the blank 4

Total tax expense