Giada Foods reported $860 million in income before income taxes for 2021, its first year of operations. Tax depreciation exceeded depreciation for financial reporting purposes by $280 million. The company also had non-tax-deductible expenses of $48 million relating to permanent differences. The income tax rate for 2021 was 25%, but the enacted rate for years after 2021 is 30%. The balance in the deferred tax liability in the December 31, 2021, balance sheet is: Multiple Choice $52 million. $84 million. $79 million. $144 million.