INCOME TAX (Tables)

12 Months Ended

Dec. 31, 2021

INCOME TAX [Abstract]

Deferred Tax Assets (Liabilities)

The Company’s net deferred tax assets (liabilities) as of December 31, 2021 is as follows:

Deferred tax assets:
Start-up costs	$	140,508
Net operating loss carryforwards		35,096
Total deferred tax assets		175,604
Valuation allowance		(169,370	)
Deferred tax liabilities:
Unrealized gain on investments		(6,234	)
Total deferred tax liabilities		(6,234	)
Deferred tax assets, net of allowance	$	—

Income Tax Provision

The income tax provision for the period from March 1, 2021 (inception) through December 31, 2021 consists of the following:

Federal
Current	$	—
Deferred		(169,370	)
State
Current		—
Deferred		—
Change in valuation allowance		169,370
Income tax provision	$	—

Reconciliation of Federal Income Tax Rate

A reconciliation of the federal income tax rate to the Company’s effective tax rate as of December 31, 2021 is as follows:

Statutory federal income tax rate	21.0	%
State taxes, net of federal tax benefit	0.0	%
Change in fair value of derivative warrant liabilities	(25.6	)%
Non-deductible transaction costs	2.3	%
Change in valuation allowance	2.3	%
Income tax provision	0.0	%