Lexington corporation collects subscription fees in advance. for financial the lexington corporation initially recognizes the collection of cash from subscription fees as unearned revenue (a liability) and then gradually recognizes these amounts as revenue (part of financial reporting income) as they become earned. however, for income tax reporting, subscription fees are taxed as part of taxable income as soon as the cash is collected. at december 31, 2016 unearned subscription fees of $400,000 were included in lexington's balance sheet. all of these amounts related to cash collected during 2016. during 2017, new subscription fees of $600,000 in cash were collected. unearned revenue from subscriptions in lexington's december 31, 2017 balance sheet amounted to $350,000. assume that the income tax rate was 35%. assuming that the accounting for subscription is the only source of book/tax differences, what amount would be reported as a deferred tax asset or liability on lexington's december 31, 2017 balance sheet?