Question: Using a 35 percent rate, compute the deferred tax asset or deferred tax liability (if any) resulting from the following: a. A transaction resulting in

Using a 35 percent rate, compute the deferred tax asset or deferred tax liability (if any) resulting from the following:
a. A transaction resulting in a $31,000 temporary excess of book income over taxable income.
b. A transaction resulting in an $18,400 permanent excess of book income over tax-able income.
c. A transaction resulting in a $55,000 temporary excess of taxable income over book income.

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