Claims paid during the year ended 31 December 2007 amounted to Sh.7,600,000 for General insurance business and Sh_6,900,000 for Life assurance business. Required: i) Determine the taxable income or loss of Linda Insurance Company Ltd. for the year of income 2007 (14 marks) ii) Tax payable (if any) by the insurance company (2 marks) (Total: 20 marks)