The following information relates to Franklin Freightways for its first year of operations (data in millions of dollars): 8 $195 Pretax accounting income: Pretax accounting income included: Overweight fines (not deductible for tax purposes) Depreciation expense Depreciation in the tax return 01:54:14 5 70 110 Print 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 Multiple Choice A deferred tax asset of $10 million among current assets. A deferred tax liability of $10 million among current liabilities. A deferred tax liability of $10 million among noncurrent liabilities A deferred tax asset of $10 million among noncurrent assets