Use the following information for questions 4 and 5.

Operating income and tax rates for C.J. Company's first three years of operations were as

follows:

Income_Enacted tax rate

2014$300,00040%

2015($750,000)40%

2016$1,260,00040%

Assuming that more likely than not all of the deferred tax asset will be realized, what is the amount of deferred tax asset or liability that C.J. Company would report on its December 31, 2015 balance sheet (assuming that the beginning balance of deferred tax asset is zero)?

$204,000

$504,000

$369,000

$300,000