Irene is interested in the tax impact of various transactions. Please review the information provided in the exhibit and determine the taxable benefit for Irene for the following items: You MUST show your detailed calculations in excel. Do NOT copy and paste from a past excel. Exhibit I Part a: Irene has been provided with an automobile owned by her employer. She uses the vehicle for both employment and personal purposes. The original cost = $36,000. The employment kilometers driven = 12,000. The personal kilometers driven = 5,600. The automobile was available to Irene for eleven months of the year. Irene wishes to know the amount of any taxable benefits associated with her use of the automobile for 2022. Part b: Irene was granted an option to acquire 11,000 of her employer's shares on January 1, Year 1, when the exercise price was $41, and the fair value was $43 per share. During Year 2, Irene exercised her option to acquire all 11,000 shares. At the time she exercised her option, the shares were trading at $50 per share. In Year 3, Irene sold 5,000 of the shares at a selling price of $56 per share. Scenario I Assume Irene's employer is a Canadian public company. Determine the impact of these transactions on Irene's net income for tax for each year. Scenario II Assume Irene's employer is a CCPC. Determine the impact of these transactions on Irenes net income for tax for each year. Part c: Irene purchased a new house in May of 2022. Under the terms of her employment, she received a $300,000 housing loan on April 1st at a stated interest rate of 2%. She pays interest on the loan monthly. The prescribed interest rates for this type of transaction are the following: Q1 4%; Q2 5%; Q3 4%; Q4 6%. Irene paid her December 2022 monthly interest payment on January 15, 2023. Determine the taxable benefit associated with the employer loan.