Question 4 (2 points) Cord Company began operations in 2010. The company reported $32,000 of depreciation expense on its income statement in 2019. On its tax returns, the company deducted $48,000 for depreciation in 2019. Assuming a 40% tax rate, how much deferred tax liability will Cord report at the end of 2019? $16,000 $19,200 $ 6,400 $25,600