In the current year, Delta Corporate generated $420.000 ordinary operating income and incurred a $21,000 capital loss on the sale of marketable securities from its investment portfolio. Delta expects to generate $420,000 of ordinary operating income in each of the next five years. Delta incurred no capital gains n its previous three years, so it must carry over the $21,000 capital loss for up to five years. Delta estimates that its remaining marketable securities would produce a $15, 500 capital gain if sold. Thus, Delta sidelines that, more likely than not, the corporation will not realize (deducts) $5, 500 of the current year capital loss. Delta has no other book tax differences and is subject to a 34% tax rate. Requirement a. Determine Delta's deferred tax assist and valuation allowance for the current year. Delta's deferred tax asset for the current year is $ . In the current year, Delta Corporate generated $420.000 ordinary operating income and incurred a $21,000 capital loss on the sale of marketable securities from its investment portfolio. Delta expects to generate $420,000 of ordinary operating income in each of the next five years. Delta incurred no capital gains n its previous three years, so it must carry over the $21,000 capital loss for up to five years. Delta estimates that its remaining marketable securities would produce a $15, 500 capital gain if sold. Thus, Delta sidelines that, more likely than not, the corporation will not realize (deducts) $5, 500 of the current year capital loss. Delta has no other book tax differences and is subject to a 34% tax rate. Requirement a. Determine Delta's deferred tax assist and valuation allowance for the current year. Delta's deferred tax asset for the current year is $