Hertzbach Enterprises elects accelerated depreciation for tax purposes but straight-line for GAAP financials. In its first...

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Hertzbach Enterprises elects accelerated depreciation for tax purposes but straight-line for GAAP financials. In its first year of operations in 2022. Hertzbach's pretax financial income was $200,000. Differences between book and taxable income are set forth below Depreciation in excess of book income Municipal bond interest not taxable $40,000 10,000 Assuming current and future tax rates are 25%, what amount of deferred tax lability will Hertzbach report in 2022? Hertzbach Enterprises elects accelerated depreciation for tax purposes but straight-line for GAAP financials. In its first year of operations in 2022. Hertzbach's pretax financial income was $200,000. Differences between book and taxable income are set forth below Depreciation in excess of book income Municipal bond interest not taxable $40,000 10,000 Assuming current and future tax rates are 25%, what amount of deferred tax lability will Hertzbach report in 2022?

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