Question $6(1\mathrm{.}5$ points$)$

Equipment with a cost of $\backslash (\backslash$$ $450,000\backslash ),$ a $10$ year life and no salvage value is being depreciated using the straight line method for financial accounting purposes. The depreciation expense on this equipment for the current year for tax purposes is $\backslash (\backslash$$ $50,000\backslash ).$ If the tax rate is $\backslash (21\backslash \%\backslash ),$ determine the deferred tax asset or the deferred tax liability for the current year.

$\backslash$$$1,050$ deferred tax liability

$\backslash$$$5,000$ deferred tax asset

$\backslash$$$5,000$ deferred tax liability

$\backslash$$$1,050$ deferred tax asset