n 2014, David Company accrued, for financial statement reporting, estimated losses ondisposal of unused

plant facilities of $2,400,000. The facilities were sold in March 2015

and a $2,400,000 loss was recognized for tax purposes. Also in 2014, David paid

$100,000 in premiums for a two-year life insurance policy in which the company was the

beneficiary. Assuming that the enacted tax rate is 30% in both 2014 and 2015, and that

David paid $780,000 in income taxes in 2014, the amount reported as net deferred

income taxes on David’s balance sheet at December 31, 2014, should be 

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