How deferred tax liability-current to be recognized

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the estimated litigation expense of $1,500,000 will be deductible in 2014 when it is expected to be paid. the gross profit from the installment sales will be realized in the amount of $600,000 in each of the next two years. The estimated liability for litigation is classified as noncurrent and the installment accounts receivable are classified as $600,000 current and $600,000 noncurrent. The income tax rate is 30% for all years. what is the income tax expense, the deferred tax asset to be recognized and the deferred tax liability-current to be recognized?

Reference no: EM13123690

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