Meme is a small business taxpayer. At 1 July 2019 the balance of the taxpayers Small Business Depreciation pool was $47,555. During the year ended 30 June 2020, Meme entered into the following transactions: All assets, including the car, are used 100% for business purposes. In May 2020, Meme sold a car used 100% for business for $11,500. The car cost $30,000 when it was purchased on 1 July 2016. Required (i) Calculate the maximum income tax deduction available to Meme for the year ended 30 June 2020 in relation of the above depreciating assets. (5 marks) (ii) Calculate the closing balance of Memes Small Business Depreciation Pool at 30 June 2020. (3 marks)