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Wildhorse Inc's only temporary difference at the beginning and end of 2024 is caused bya $3.66 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 instaliments in 2025 and 2026. The related deferred tax liability at the beginning of the year is $1,098,000. 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 $6,100,000, and taxable income is expected in all future years