1. Maple Leaf is a gold producing mine in the Midlands area. The company sold gold worth $ 5 000 000 during the year of assessment ended 
2. 31 December 2022. 
3. The following expenditure was incurred during the same year:
4. Steam Generator $ 300 000
   Plant and Machinery $1 850 000
   Shaft sinking $1 780 000
   Salaries $1 350 000
   Interest $ 150 000
   Administration $ 240 000
   Insurance $ 150 000
   Mining Buildings $ 450 000
5. Notes:
6. The company sold excess Plant and Machinery for $360 000 during the year.
   Administration expenses included $28000 being penalty imposed by Zimra for late payment of tax due. Another $45000 was a donation to a local soccer team.
   The company paid interest of $150000 for a bank loan of $1000000 which was used to finance working capital.
   The company had Unredeemed capital expenditure on 31 December 2021 of $ 6 650 000.
   The agreed life of mine is 20 years.
   It was agreed that the Life of Mine Method is to be used to calculate Capital Redemption Allowance.
   Required:
   Calculate the company's taxable income or assessed loss for the year ended 31 December 2022