The balance sheet carrying value of Jiffy's only depreciable asset (A distillery machine) was $154,000 larger than its tax basis at December 31, 2021. This difference was a result of straight-line depreciation being used for financial reporting purposes and accelerated depreciation being used for tax purposes. The distillery machine was purchased earlier in the year. There are no other temporary differences besides the one related to the distillery machine. The enacted tax rate is 25% for 2021 and 38% for every following year after 2021.

By what amount should Jiffy report the deferred tax effect of this difference in its December 31, 2021?

*Please read carefully and show steps please.*