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What amount should included in deferred income tax liability

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Question - In its 2011 income statement, Paek Corp. reported depreciation of $370,000 and interest revenue on municipal obligations of $70,000. Park reported depreciation of $550,000 on its 2011 income tax return. The difference in depreciation is the only temporary difference, and it will reverse equally over the next three years. Park's enacted income tax rates are 35% for 2011, 30% for 2012, and 25% for 2013 and 2014. What amount should be included in the deferred income tax liability in Park's December 31, 2011 balance sheet?

a. $48,000

b. $62,500

c. $75,000

d. $87,500

Reference no: EM132069395

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