John has $10mil of deferred revenue-subscription on 12/31. John recognizes income for tax purposes when cash is collected. Tax rate is 25%. It's 12/31 Balance sheet should include a:
a. Deferred tax asset $2,500,000
b. Deferred tax asset $7,500,000
c. Deferred tax liability $2,500,000
d. Deferred tax liability $7,500,000
