Sunland Tar and Gravel Ltd. operates a road construction business. In its first year of operations, the compary won a contract to build a roed for the municipality of Cochrane West. It is estimated that the project will be completed over a three-year period starting in June 2023. Sunland uses the percentage-of-completion method of recognizing revenue on its long-term construction contracts. For tax purposes, and in order to postpone the tax on such revenue for as long as possible, Sunland uses the completed-contract method allowed by the CRA. For the second year of operations, Sunland made progress on the construction of the road for the municipality. The account balances at December 31, 2024, for the construction project and the accounting and tax balances of accounts related to the equipment used for construction follow. (The balances at December 31, 2023, are also listed.) Sunland's tax rate is 25% for 2023 and subsequent years. Income before income tax for the year ended December 31, 2023, was $197,100 and for December 31,2024 , was $122,800. (a). Calculate the deferred tax asset or liability balances at December 31,2024 . Deferred tax $