Part B

Vape Ltd is a small business corporation. It manufactures and supplies garden tools. The following is a summary of income

and expenditure for the year ended $28$ February $2023$:

R

Gross income $4800000$

Interest income $700000$

Purchase of machinery for manufacturing $($immediately brought into use$)$ on $1$ July $20221500000$

Office equipment purchased and brought into use on $1$ March $20221200000$

Required:

$3\mathrm{.}3$ Calculate the tax due by Vape Ltd for the year ended $28$ February $2023.$ The taxpayer prefers the most

preferential wear and tear allowance.