During its first year of operation a comany recoreded accured expense totaling $ 375,000 for book purposes. For tax purposes, $ 175,000 of th expense are deductible during the first year of operation and $ 200,000 are dedutible during the second year of operation. The enacted income tax rate was 40% during the first year of operation and 45% during the second year of operation, what deferred tax should be reported on the balance sheet at the end of the first year of operation?