Willingham, Inc., an accrual basis C corporation, reports pretax book income of $1,600,000. At the beginning of the tax year, Willingham reported no deferred tax accounts on its balance sheet. It is subject to a 21% U.S. income tax rate in the current year and for the foreseeable future.

Willingham's book-tax differences include the following.

Addition to the book reserve for uncollectible receivables (no specific write-offs occurred; therefore, no income tax deduction)	$4,000,000
Tax depreciation in excess of book	3,000,000
Book gain from installment sale of nonbusiness asset, deferred for tax	2,000,000
Interest income from school district bonds	200,000

Compute the entity's current income tax payable and deferred tax liability for the year.

Current income tax payable: $ Deferred tax liability: $