Wildhorse Co. at the end of 2024 , its first year of operations, prepared a reconciliation between pretax financial income and taxable income as follows: The estimated litigation expense of $3450000 will be deductible in 2026 when it is expected to be paid. Gross profit of $1380000 from the installment sales will be realized in each of the next two years. The estimated liability for litigation is classified as noncurrent and the installment accounts receivable are classified as $1380000 current and $1380000 noncurrent. The income tax rate is 20% for all years. The deferred tax liability at the end of 2024 to be recognized is $432000. $552000. $138000. $276000