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What is the amount of the deferred tax liability

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Question - Bolous Ltd purchased a depreciable asset for $100,000, at the beginning of year 1.

For accounting purposes, the asset is depreciated on a straight-line basis over an estimated useful life of 8 years, with zero residual value.

For taxation purposes the asset is depreciated 20% on cost per annum. The tax rate is 30%.

Required - What is the amount of the deferred tax liability relating to this depreciable asset at the end of years 1, 2 and 3?

Reference no: EM133186349

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