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Question: question 11 at the beginning of 2018 oriole co purchased...

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Question 11 At the beginning of 2018, Oriole Co. purchased an asset for $1700000 with an estimated useful life of 5 years and an estimated salvage value of $160000. For financial reporting purposes the asset is being depreciated using the straight-line method; for tax purposes the double-declining-balance method is being used. Oriole Co.s tax rate is 40% for 2018 and all future years. At the end of 2018, which of the following deferred tax accounts and balances is reported on Orioles balance sheet? Account Balance Deferred tax asset $123200 $148800 O Deferred tax liability$123200 O Deferred tax liability48800 O Deferred tax asset Click if you would like to Show Work for this question: Open Show Work

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