Lin Ltd$.$ reported the following:

$20$X$7($first year of operations$)20$X$8$

Earnings $($loss$)$ $ $99,000$ $ $(168,000)$

Depreciation $($assets have a cost of $$390,000)$ $ $50,000$ $ $50,000$

CCA $ $65,000$ $ $75,000$

Non$-$deductible expenses $ $19,000$ $ $19,000$

Tax rate $25\%25\%$

What is the amount of the taxable income or loss in each year? $($Negative amounts and deductible amounts should be

indicated by a minus sign.$)$

$1.$ What is the amount of the taxable income or loss in each year? $($Negative amounts and deductible amounts should be indicated by a minus sign.$)$

$2.$ How much is the tax refund to be claimed in $20$X$8?$

$3.$ How much is tax expense $($recovery$)$ in $20$X$8,$ assuming that use of the loss carryforward is not probable?