$1\mathrm{.}1$ Suggest FOUR instances that you would utilize to determine whether a piece of property

is depreciable. $(4)$

$1\mathrm{.}2$ Indicate differences or similarities between Sales taxes and Excise taxes. $(6)$

$1\mathrm{.}3$ A corporation sold a piece of equipment during the current tax year for R$78,600.$ The

accounting records show that its cost basis, B$,$ is R$190,000$ and the accumulated depreciation

is R$139,200.$ Assume that the effective income tax rate as a decimal is $0\mathrm{.}40(40\%).$ Based on

this information, what is:

a$)$ The gain or loss on disposal. $(3)$

b$)$ The tax liability $($or credit$)$ resulting from the sale.