What amount should be recognized as deferred tax asset

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Question - HAPPY Company operates a leasing business. In year 2020, HAPPY Company leased its building to Lemon Company. The agreement provided that the lease term is good for 10 years beginning January 1, 2020. The rent for first year is 580,000 and 650,000 for second year through tenth year. HAPPY Company allowed to use the building rent-free for the first two months. Tax rate 30%. What amount should be recognized as deferred tax asset on HAPPY Company's Balance Sheet for the year end, December 31, 2020?

Reference no: EM133020388

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