On March $1,20$X$7,$ a company purchased securities of a publicly traded company for $1$ million. At the end of $20$X$7,$ the securities were worth

$800,000.$ If the company treats the securities as trading securities$,$ then for these securities$,$ at the end of $20$X$7,$ the company will most

appropriately record:

A$.$ a deferred tax asset.

B$.$ a deferred tax liability.

C$.$ neither a deferred tax asset nor a deferred tax liability.