The following information relates to Franklin Freightways for its first year of operations (data in millions of dollars): The applicable tax rate is 25%. There are no other temporary or permanent differences. Franklin's balance sheet at the end of its first year would report a: Multiple Choice deferred tax asset of $30 million among noncurrent assets. deferred tax liability of $30 million among noncurrent liabilities. deferred tax asset of $30 million among current assets. deferred tax liability of $30 million among current liabilities