View Policies Current Attempt in Progress Blossom Co.at the end of 2020, its first year of operations, prepared a reconciliation between pretax financial income and taxable Income as follows: Pretax financial income Estimated litigation expense Extra depreciation for taxes Taxable income $2890000 3890000 (5892000) $ 888000 The estimated litigation expense of $3890000 will be deductible in 2021 when it is expected to be paid. Use of the depreciable assets will result in taxable amounts of $1964000 in each of the next 3 years. The income tax rate is 20% for all years. The deferred tax asset to be recognized is $177600 $578000 $392800. $778000 Attempts: 0 of 1 used Submit Anime W