G Co produces different types of rugs. On 1 July 2017, G Co purchased a new machine for $5.5 m (inclusive GST) which it used to produce the packages in which different types of items were placed for sale to retailers. At the time of acquiring the machine, G Co estimated that the machine would have an effective life of 7 years before it needed to be replaced. Afterward, on 1 July 2021, as a result of new technology, a better machine became available, and G Co decided to sell the original machine for $550,000 (inclusive GST). What are the tax consequences of these arrangements under Div. 40 ITAA97?