Frederick is a resident taxpayer $($non$-$Small Business Entity$)$ who commenced business in $2015$ and wishes to minimise his tax liability in the current year. All costs are exclusive of GST$.$

Depreciating assets on hand on $1$ July $2021$

Item Cost Adjustable value

$1$ July $2021$ Effective life

$($years$)$ Business use Method

Machine $$18,000$ $$13,2005100\%$ Diminishing value

Factory

Fittings $$27,400$ $$17,90010100\%$ Prime Cost

Office furniture $$1,800$ $$6607100\%$ Diminishing value

Frederick uses a Low Value Pool which had a balance of $$1,800$ on $1$ July $2021.$

Additions during year

$$ Motor vehicle was purchased on $1$st March $2022$ at a cost of $$45,000.$ It has an effective life of $8$ years and will be used $65\%$ for business

$$ Office Desk purchased for $$900$ on $1/12/21$; effective life of $10$ years

Disposals during year

$$ The machine was sold on $30/9/21$ for $$3100$

Required:

For the year ended $30$ June $2022,$ you are required to:

$($a$)$ calculate the total of amounts that are assessable or deductible in relation to the assets owned by Frederick including disposal of the machine.

$($b$)$ calculate the closing balance of the Low Value Pool