Congratulations on your appointment as a Tax Trainee at a recognized audit firm in Jamaica. On your first assignment your supervisor asked you to assist him with the income tax computation of a small business in the tourism sector. The company provided the following information:

Allens Rest Well Resort is a resort cottage located incorporated in Jamaica. The company is a registered tourism operator under the Tourist Board Act. The hotel commenced operations on the 1 January 2019.

Fixed Assets

	Cost (J$)	TWDV (J$)
Building (hotel)	100,000,000	72,000,000
Furnitures	8,000,000	6,000,000
Computers (laptops and CPUs)	1,000,000	500,000
Computers (printers and monitors)	500,000	375,000
Motor Cars
# 1 purchased in July 2019 # 2 purchased January 2019	3,000,000 2,500,000	2,437,500 1,875,000
Bus and Vans (purchased 1 January 2019)	8,00,0000	480,000

The following acquisitions and disposal occurred in 2021:

1. A Corolla motor car purchased for $3,000,000. Acquired 1 April 2021.
2. A BMW for $10,000,000. Acquired 1 November 2021.
3. A new building constructed for $30,000,000
4. Laptop for $100,000
5. Purchase of a telephones for $950,000.
6. The company Motor car #1 was sold for $2,700,000

Assume the relevant exchange Rate is US$152: J$1

Required

Calculate the capital allowance computation for Allens Rest Well Resort for 2021. (12 marks)

Total 30 marks.