Use the following Information to answer questions 9-11. BCD Inc. began operations in January 2018. For its property sales, BCD recognizes income in the period of sale for financial reporting purposes. However, for income tax purposes, BCD recognizes income when it collects cash from the buyer's installment payments. In 2018, BCD had $60 million in sales of this type. Scheduled collections for these sales are: 2018 2019 2020 2021 2022 $ 6 million $12 million $12 million $15 million $15 million Total $60 million Assume that BCD has a 30% income tax rate and that there were no other differences in income for financial statement and tax purposes. 9. Ignoring operating expenses, what deferred tax liability would BCD report on its year- end 2018 balance sheet? a. $1.8 million b. $16.2 million C. $18.0 million d. $54.0 million 10. Ignoring operating expenses and additional sales in 2019, what deferred tax liability would BCD report in its year-end 2019 balance sheet? a. $5.4 million b. $14.4 million C. $12.6 million d. $18.0 million Suppose that in 2019, legislation revised the income tax rates so that BCD would be taxed in 2020 and beyond at 40%, rather than 30%. Assume that there were no other differences in income for financial statement and tax purposes, ignoring operating expenses and additional sales in 2019, what deferred tax liability would BCD report in its 2019 balance sheet? a. $16.8 million b. $14.4 million c. $12.6 million d. $24.0 million