The following information relates to Franklin Freightways for its first year of operations (data in millions of dollars): Pretax accounting income: $200 Pretax accounting income included: Overweightfines(notdeductiblefortaxpurposes)DepreciationexpenseDepreciationinthetaxreturnusingMACRS:570110 The applicable tax rate is 40%. There are no other temporary or permanent differences. Franklin's balance sheet at the end of its first year wod report: A deferred tax liability of $16 million among noncurrent liabilities A deferred tax liability of $16 million among current liabilities A deferred tax asset of $16 million among noncurrent assets A deferred tax asset of $16 million among current assets