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What the transaction would lead to the creation of a

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Randolf is interested in making his business more energy efficient. Comfy Home purchased and installed solar panels for $40,000 in January 2016.

For book purposes, the solar panels are being depreciated straight-line over 15 years. For tax purposes, the solar panels are using an accelerated depreciation method over 10 years.

Problem 1: In 2016, this transaction would lead to the creation of a:

Group of answer choices

Option 1: Deferred tax asset

Option 2: Deferred tax liability

Option 3:  Tax liability

Option 4: Prepaid taxes

Reference no: EM132693933

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