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1.1 please help. will give like if correct Exercise 164 (Static) Taxable income...

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Accounting

1.1 imageplease help. will give like if correct
Exercise 164 (Static) Taxable income given; calculate deferred tax liability from book-tax difference; financial statement effects [LO16-2] Ayres Services acquired an asset for $80 million in 2024. The asset is depreciated for financial reporting purposes over four years on a straight-line basis (no residual value). For tax purposes the asset's cost is depreciated by MACRS. The enacted tax rate is 25%. Amounts for pretax accounting income, depreciation, and taxable income in 2024,2025, 2026, and 2027 are as follows: For December 31 of each year, determine (o) the cumulative temporary book-tax difference for the depreciable asset and (b) the balance to be reported in the deferred tax liability account. Note: Leave no cell blank, enter " 0 wherever applicable. Enter your answers in millions rounded to 2 decimal places (i.e., 5,500,000 should be entered as 5,50 )

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