Mini, Inc., earns pretax book net income of $1,732,000 in 2019. Mini deducted $132,800 in bad debt expense for book purposes. This expense is not yet deductible for tax purposes. Mini reports $1,818,600 of pretax book net income in 2020. Mini did not recognize any bad debt expense for book purposes in 2020 but did deduct $99,600 in bad debt expense for tax purposes. Mini reports no other temporary or permanent differences. The applicable U. S. Federal corporate income tax rate is 21%, and Mini earns an after-tax rate of return on capital of 8%. Required:
In time value of money terms, what has been the cost to Mini of the deferred tax deduction for bad debts?