The following information is provided for a firm: 
a. Calculate the amount of deferred taxes that the firm will report on its balance sheet
in years 2 and 3.
b. Calculate the real after-tax cash flows for the firm in years 2 and 3.
Definitions:
Peripheral Edema
Peripheral edema is the swelling of tissues, usually in the lower limbs, due to the accumulation of fluid, often indicating underlying health conditions.
Jugular Vein
A large vein in the neck that carries blood from the head back to the heart; often observed in medical assessments for signs of heart failure.
Crackles
Abnormal lung sounds heard through a stethoscope, typically indicating fluid in the airways.
Hyperventilate
A condition where an individual breathes at an abnormally rapid rate, leading to decreased carbon dioxide levels in the blood.
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