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Wapato Corporation purchased a new piece of equipment at the beginning of Year $1$ for $$1,060,000.$ The expected life of the asset is $20$ years with no residual value. The company uses straight$-$line depreciation for financial reporting purposes and accelerated depreciation for tax purposes $($the accelerated method results in $$127,200$ of depreciation in Year $1$ and $$106,000$ of depreciation in Year $2).$ The company's federal income tax rate is $21$ percent. The company determined its income tax obligations for Year $1$ and Year $2$ were $$418,000$ and $$636,000,$ respectively.

Required:

$1-$a$.$ Compute the deferred income tax amount reported on the balance sheet for each year.

$1-$b$.$ Is the deferred income tax a liability or an asset?