The subsidiary Lantorre lost money in 20X4 and 20X5; it has 2,000,000 of losses that may be carried forward for four years (data). It has 400,000 of taxable differences, of which 250,000 will reverse within the period. In December 20X5 it signed a three-year supply agreement with a distributor and launched a cost-reduction plan that is not yet complete. Tax rate: 25%. Write the position paper on the deferred tax asset and the disclosures.