, Problem 3-30 (b) (LO. 2) Shenandoah, Inc, is a domestic corporation with the following balance sheet for book and tax purposes at the end of the year before recording any net deferred tax asset or net deferred tax liability Tax Book Debit/(Credit) Debit/(Credit) Assets Cash Accounts receivable Buildings $8,000 12,000 196,000 (44,000) 18,000 (2,100) 187,900 $8,000 12,000 196,000 (32,000) 18,000 (1,500) $200,500 Accumulated depreciation Furniture and fixtures Accumulated depreciation Total assets Liabilities Accrued litigation expense Note payable Total liabilities Stockholders Equity Paid-in capital Retained earnings Total liabilities and stockholders' equity $0 (71,000) ($71,000) ($16,000) (71,000) ($87,000) ($33,000) (83,900) ($187,900) ($33,000) (80,500) ($200,500) Based on this information, determine Shenandoah's net deferred tax asset or net deferred tax liability at year end. Assume a 21% corporate tax rate and no valuation allowance. a. The total difference in the book and tax bases of the assets is in the amount of b. The total difference in the book and tax bases of the liabilities is the amount of .which results in a gross deferred tax liability V which results in a gross deferred tax assetin c. Shenandoah's net deferred tax asset at year end is