In 2021, Dunder Mifflin's warranty deduction for tax purposes exceeded its warranty expense for book purposes by $654. Its pretax financial income in 2021 was $42800, and its tax rate was 27%. What amount of deferred tax liability should be reported on Dunder Mifflin's 2021 balance sheet? Assume no prior deferred tax balance. Choose the closest answer (round to the nearest two decimal places).

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Deferred Tax

Deferred tax is an estimated future tax which is made while preparing accounts. It is estimated as a result of past and present transactions in the financial statements. It is not the actual tax which needs to be paid or refundable from the revenue authority, it is an accounting entry. It exists because of the difference between accounting profits and taxable profits.