Frey Corporation's income statement for the year ended December 31, 2002, shows pretax income of ₱1,000,000. The following items are treated differently on the tax return and in the accounting records:   Tax Return Accounting Records Rent income ₱ 70,000 ₱120,000 Depreciation expense 280,000 220,000 Premiums on officers' life insurance - 90,000 Frey's tax rate for 2002 is 30 percent. How much is the deferred tax expense (benefit) for 2002? 33,000 (24,000) 24,000 (33,000)

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