Hopkins Co. at the end of 2014, its first year of operations, prepared a reconciliation Between pretax financial income and taxable income as follows: Pretax financial income $1,500,000 Estimated litigation expense 2,000,000 Extra depreciation for taxes (3,000,000) Taxable income $ 500,000 The estimated litigation expense of $2,000,000 will be deductible in 2015 when it is expected to be paid. Use of the depreciable assets will result in taxable amounts of $1,000,000 in each of the next three years. The income tax rate is 30% for all years. The deferred tax asset to be recognized isa. $150,000 current.b. $300,000 current.c. $450,000 current.d. $600,000 current.I know the answer is D but need work shown
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