At the end its first year of operations Hopkins Co prepared a reconciliation between pretax financial income and taxable income as follows Pretax financial income$1500000Estimated litigation expense2 000000Extra depreciation for taxes 3000000 Taxable income 500000The estimated litigation expense of $2000000 will be deductible in the following year when it is expected to be paid Use of the depreciable assets will result in taxable amounts of $1000000 in each of the next three years The income tax rate is 30 for all years The deferred tax asset to be recognized is