ii. Owing to the potential expansion of APDS, on 10 November 2023 APDS purchased the adjoining two blocks of land from Dandenong Valley fields at a total cost of $10 million (each block had equal value). APDS borrowed 90% of the total cost from Eastpac Bank at an interest rate of 4.5% per annual repayable over 30 years. Due to the risky nature of the loan, the bank secured the title to Dean Martin and Jenny Pink's personal homes, both located on the Mornington Peninsula. APDS''s intention was to consolidate the land titles and build a large training facility, to train students to drive commercial vehicles ugg driving simulators. However, when the planning application to consolidate the lahd titles was lodged, APDS met with heavy opposition from both the Dandenong shire council and the NAA. Both organisations argued that the land should be rezoned and subdivided and was not suitable for a training facility. As a result, APDS incurred $300,000 in solicitor and court fees to assist with the application approval; however, the Land Tribunal on the advice of the NAA, ruled APDS unsuccessful and the Tribunal instructed the council to reject the planning application. In light of this, APDS sold both recently purchased blocks of land back to Dandenong Valley Fields for a total sum of $13.75 million on 1 March 2024, with settlement on 1 May 2024. A deposit of 10% was paid on contract date of 1 March 2024. Prepare a letter of advice/report which identifies all relevant tax issues, critically analyses, and applies the taxation treatment to the issues, i.e., you will need to argue and support your view and consider differing views (if applicable), and indicate your recommended action based on your better view, i.e., your conclusion (IRAC principle). You must ensure that your analysis used to determine your recommended action is fully supported with relevant authority, for example, tax legislation and case law