Pyramid company (CSOFP ) – Deferred tax liability

At the date of acquisition, Pyramid conducted a fair value exercise on Square’s net
assets which were equal to their carrying amounts with the following exceptions:
• An item of plant had a fair value of $3 million above its carrying amount. At the
date of acquisition it had a remaining life of five years. Ignore deferred tax
relating to this fair value.
• Square had an unrecorded deferred tax liability of $1 million, which was
unchanged as at 31 March 20X2.
Pyramid’s policy is to value the non-controlling interest at fair value at the date of
acquisition. For this purpose a share price for Square of $3.50 each is representative
of the fair value of the shares held by the non-controlling interest.

MY QUERY

• Square had an unrecorded deferred tax liability of $1 million, which was
unchanged as at 31 March 20X2.

Since this DTL would be paid off a year later or even after that, we should compute its present value and a relevant finance charge.

But in the solution (given in Kaplan kit), they have only mentioned DTL as noncurrent liability at its fair value.

Am i missing something? Do they just mean its the fair value at date of acquisition, use it to compute goodwill and then forget about it… But it’s still a liability that will be dealt with one year later or even beyond that… It has an implicit interest rate within it….