On the same date, I purchases a machine is expected to have a useful de out its life. It will have no residual value at Robert Ltd commencoS operations on 1 July 2017. On the same data fibreglassing machine at a cost of $600,000. The machine is expected to have of 4 years, with benefits being uniform throughout its life. It will have no resi the end of 4 years. Hence, for accounting purposes the depreciation expense purposes the depreciation expense would be $ 150,000 per year. For taxation purpose, the ATO allows the company to dopre assot over 3 years - that is $200,000 per year. The tax rate is 30%. The profit before for the company for the year ending 30 June 2018 is $1 200, 000. To calculate thi the company has deducted the followings: Entertainment expenses 12000 Rent expense for year ended 30 June 2018 but not paid $10,000 Goodwill impairment Doubtful debts expenses Amount provided in 2015 for employees' long-service leave entitlements Car parking fine $1000 $1000 $3000 $500 (1) Calculate the company's taxable profit and hence its tax payable for 2018 (1) Determine the deferred tax liability and/or deferred tax asset that will result