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  3. delta had a deferred tax asset of $200 million wit

Delta had a deferred tax asset of $200 million with no valuation allowance on December...

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Accounting

Delta had a deferred tax asset of $200 million with no valuation allowance on December 31, 2020. At the end of 2021, Delta had a deferred tax asset of $230 million before assessing the need for a valuation allowance. For the year 2021, Delta's income taxes payable ls $85 million. At the endof 2021, Delta determined that it was more likely than not that 20% of its deferred tax assets will not be realized. What amount should Delta report as Income tax expense in its 2021 income statement?

A 101 million. B148 million. C115 million. D 84 million.

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