QUESTION 7 On its tax return at the end of the current year Webnet Inc. has $6 million of tax depreciation in excess of depreciation in its income statement. A disclosure note reveals that $1 million of the 56 million difference will reverse itself next year, and the remainder will reverse over the next 4 years. In the absence of other temporary differences, in the balance sheet at the end of the current year Webnet would report A) Both a current deferred tax asset and a noncurrent deferred tax asset. B) A noncurrent deferred tax asset. C) Both a current deferred tax liability and a noncurrent deferred tax liability D) A noncurrent deferred tax liability