Dancing Solutions Ltd (DSL) has 100,000 fully paid ordinary shares which are held by the following shareholders: David 10,000 Eli 15,000 Jazz 25,000 Kerre 20,000 Rhys 20,000 Sonia 10,000 The market value of the shareholders' funds is currently $250,000. The shareholders are not associated other than that they are all involved in dancing. DSL has Available Subscribed Capital (ASC) of $100,000. REQUIRED: Assuming that the Commissioner of Inland Revenue (Commissioner) will be satisfied that the repurchases are not made in lieu of a dividend if the brightline tests are met, you are required to determine whether the brightline tests (thresholds) are met in the following alternative circumstances. (You should include an explanation of what the relevant brightline tests are in your answer). Comment on the tax implications (if any) of your calculations. Work to 2 decimal places. Alternative 1: DSL offered to repurchase 4,000 shares from Eli and 1,500 shares Sonia on 1 June 2022. The offers are accepted. Alternative 2: DSL offered to repurchase 2,000 shares from David on 1 June 2022 and 3,500 shares from Kerre on 25 June 2022. Both offers are accepted