Use the following data for Questions 4 and 5 1. Actual warranty repairs made in 2020 and allowed to be deducted for tax purposes amounted to $35,000 Warranty expense recorded in 2020 was $25,000 2. For years before 2020, warranty expense recorded was $60,000 and total repairs made under warranty amounted to $10,000. 3. CCA allowed for tax purposes in 2020 was $65.000; depreciation expense recorded in 2020 was $105,000 There was no depreciation expense or CCA before 2020. 4. The rate for all years is 30% QUESTION The December 31, 2020 balance sheet would show which item for Deferred Tax? Select one: a. Deferred tax asset for $24,000 b. Deferred tax liability for $24,000 c. Deferred tax asset for $12,000 d. Deferred tax liability for $12,000