Hey Presto is a resident “small business” taxpayer who operates a business manufacturing board games. The business’s average annual turnover is $2.5 million and it is registered for the GST. During the year ended 30 June 2021, they recorded the following transactions relating to plant acquisitions (all amounts are excluding GST).
(Total 7 Marks)

Item	Cost (excl. GST)	Date Acquired	Effective Life
3D Printer	$65,500	25/08/20	3 years
Computer	$3,500	30/08/20	4 years
Drying rack	$1,990	10/09/20	20 years
Car	$56,000	15/06/21	8 years
Screen Printing Press	$17,200	5/05/21	5 years

 
The balance of the depreciable asset pool at 1 July 2020 was $86,500. All assets are to be used 100% in the business with the exception of the motor vehicle which will be used 80% for business purposes. On 1 June 2021 an old screen printing press was sold for $2,500. The machine had originally cost $11,500 in 2016 when it was first pooled.
 
Required:
i)     Calculate the maximum income tax deduction available to Hey Presto for the year ended 30 June 2021 in relation of the above depreciating assets. Show all working. Ignore any available COVID stimulus measures.
ii)    Calculate the closing balance of the Small Business Depreciation Pool at 30 June 2021. Show all working. Ignore any available COVID stimulus measures.