TPW, a calendar year taxpayer, sold land with a $543,000 tax basis for $790,000 in February. The purchaser paid $83,000 cash at closing and gave TPW an interest-bearing note for the $707,000 remaining price. In August, TPW received a $58,550 payment from the purchaser consisting of a $35,350 principal payment and a $23,200 interest payment. Assume that TPW uses the installment sale method of accounting. Required: a. Compute the difference between TPW's book and tax income resulting from the installment sale method. b. Is this difference favorable or unfavorable? c. Using a 21 percent tax rate, compute PTR's deferred tax asset or liability (identify which) resulting from the book/tax difference. Required A Required B Required c Compute the difference between TPW's book and tax income resulting from the installment sale method. (Round gross profit percentage to 2 decimal places, and intermediate calculations to the nearest whole dollar amount. Round your final answer to nearest whole dollar amount.) Book/tax difference Required A Required B Required C Is this difference favorable or unfavorable? O Favorable Unfavorable Required A Required B Required C Using a 21 percent tax rate, compute PTR's deferred tax asset or liability (identify which) resulting from the book/tax difference. (Round gross profit percentage to 2 decimal places, and other intermediate calculations to the nearest whole dollar amount. Round your final answer to nearest whole dollar amount.)