Answer
Deferred tax liability
1. 2018: (42,000*34%) = 14.280
2. 2019: (244,000*34%) = 82,960
3. 2020: (294,000*40%) = 117,600
Deferred tax liability at December 2020 = (14,280+82,960+117,600) = 214,840
Work Step by Step
To get the deferred tax liability, we shall take the given future taxable value multiplied by the given rate.
