At the start of the current financial year, Paul decided to purchase a newly constructed apartment in the city for $400,000 which he hopes will increase his long-term wealth and create some tax deductions given that he has a 46.5% marginal tax rate. He used $80,000 of his own money as a deposit and borrowed the remaining $320,000 from Fast Finance on an interest-only loan for 5 years at a fixed interest rate of 7% p.a. Paul paid a loan approval fee of $1,250. Some additional details regarding the property purchase are listed below: Purchase price of $400,000 consisting of $375,000 for the building costs and $25,000 for depreciable plant and equipment. A building allowance of 2.5% p.a. and plant and equipment depreciation of 20% p.a. is available for the apartment on a straight-line basis. Property rental of 6% p.a. (gross of the total purchase cost) with annual cash-based operating expenses (excluding financing) of $10,000. Paul decides to sell the property after 5 years for $600,000. Associated selling costs are $20,000. Note that the value of plant and equipment originally purchased for $25,000 at the time of sale is expected to be $nil. Your task is to produce, for Paul, a schedule showing the taxation liability and the after-tax proceeds on the sale of the property.