XYZ Company reported its expected depreciation log for its fixed asset. The company reported a historical cost of $82,000 with an estimated life of 5 years and no salvage value. Assume the company follows IFRS and reports its depreciation using the straight-line method, while the tax reporting laws of the country it operates in require the use of double declining method and a tax rate of 25%. The table below shows the depreciation log for the fixed asset. Years Book-dep. 1 UN 16,400 16,400 16,400 16,400 16,400 $82,000 Tax-dep. Excess tax over book Pre-tax book Taxable income (Temporary income Difference) 29,800 150,000 19,680 150,000 16,400 150,000 13,120 150,000 3,000 150,000 = $82,000 --0 From the image answer the question. The journal entry for year 2 is Dr. Income tax expense 37.500: Dr. Deferred tax liability 820 Cr. income tax payable 36,680 Dr. Income tax expense 36,680, Cr, Income tax payable 37.500; Cr. Deferred tax liability 820 Dr. Income tax expense 37.500: Cr. Income tax payable 36.680: Cr. Deferred tax ability 820 Dr. Income tax expense 36.680 Dr. Deferred tax liability 020: Cr. Income tax payable 37,500 From the image answer the question. The temporary difference for years is 513,400 (513,400) $12.90 50 From the image answer the question. The taxable income for year 2 is ($153.280) $146, 720 (5146,720) 5153.280 From the image answer the question. The Deferred Tax Liability for year 4 is 0 $3,280) 53.280 5820 :From the image answer the question. The journal entry for year 3 is Dr. Deferred tax liability 37.500: Cr. Income tax expense 37.500 Dr. Income tax expense 39.500Cr. Deferred tax liability 37.500 Or Income tax expense 37500r. Income tax payable 37.500 Dr income tax payable 3. C. income tax expense 37.500