Milo Manufacturing uses straight-line depreciation for financial statement reporting and is able to deduct 100% of the cost of equipment in the year the equipment is purchased for tax purposes. Four years after its purchase, one of Milo's manufacturing machines has a book value of $800.000. There were no other temporary differences and no permanent differences. Taxable income
was $30 million and Milo's tax rate Is 25%.
What is the deferred tax liability to be reported in the balance sheet?