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Prance, Inc., earns pretax book net income of $1,933,000 in 2019. Prance acquires a depreciable asset that year, and first-year tax depreciation exceeds book depreciation
Prance, Inc., earns pretax book net income of $1,933,000 in 2019. Prance acquires a depreciable asset that year, and first-year tax depreciation exceeds book depreciation by $193,300. Prance reported no other temporary or permanent book-tax differences. The pertinent U.S. Federal corporate income tax rate is 21%, and Prance earns an after-tax rate of return on capital of 8%.
Enter below the Prance's 2019 deferred tax expense and any deferred tax asset or liability.
If required, round your answer to nearest whole value.
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