Timothy Co. began operations in 2021 and reported $500,000 in income before income taxes for the year. Timothy's 2021 tax depreciation exceedefits book depreciation by $60,000. Timothy also had nondeductible book expenses of $10,000 related to permanent differences. Timothy's tax rate for 2021 was 20%, and the enacted rate for years after 2021 is 25%. In its December 31, 2021, balance sheet, the amount of deferred income tax liability Timothy reports would be: $12,000 O $15,000 $14,000 $17,500