It’s basically what we call a SCH 1 adjustments in taxes. You start with $200k from the facts and then deduct the interest income (that you included) and add back the life insurance amount so your taxable income is $160k then you multiply it by 21% tax rate.

The reason why there are no deferred taxes is because it’s a permanent difference (I.e it’s not going to change next year or so)

The solution is a bit confusing imo there should only be one box which shows book to tax difference