Current Attempt in Progress

Crane Inc.$\text{'}$s only temporary difference at the beginning and end of $2024$ is caused by a $$3\mathrm{.}06$ million deferred gain for tax purposes for an installment sale of a plant asset, and the related receivable $($only one$-$half of which is classified as a current asset$)$ is due in equal installments in $2025$ and $2026.$ The related deferred tax liability at the beginning of the year is $$918,000.$ In the third quarter of $2024,$ a new tax rate of $20\%$ is enacted into law and is scheduled to become effective for $2026.$ Taxable income for $2024$ is $$5,100,000,$ and taxable income is expected in all future years.

$($a$)$

Determine the amount reported as a deferred tax liability at the end of $2024.$

Deferred tax liability $

eTextbook and Media

List of Accounts

Attempts: $0$ of $3$ used

$($b$)$

The parts of this question must be completed in order. This part will be available when you complete the part above.

$($c$)$

The parts of this question must be completed in order. This part will be available when you complete the part above.