Please help me answer this taxation question. (20 marks)

Premier piping ( Pty) LTD ( Premier) manufactures plastic pipes for use in the building industry. Premier is not a small business corporation as defined in the Income Tax Act and its year of assessment ends 31 March 2019. Premier is a registered VAT vendor. The accountant has calculated the accounting profit of Premier as R 3 752 731 for the 2019 year of assessment. The following information has not been taken into account in calculating the accounting profit.

1. Machine C was purchased second-hand at a total cost of R 575 000 (excluding VAT) on 1 May 2017 and brought into use on 2 June 2017. Due to a change in building industry regulations, Machine C had to be sold and was replaced with a new and unused manufacturing machine (Machine X). Machine C was sold for R 592500 (excluding VAT) on 30 September 2018 and Machine X was purchased at a total cost of R 946200 (including VAT) ON 15 October 2018 and brought into use on 1 November 2018.

2. Premier sold a piece of vacant land for R 650,000(excluding VAT), but including estate agent's commission of R 45,750 on 1 August 2018 The piece of vacant land was originally acquired on 1 May 2016 at a cost of R 400 000, excluding transfer costs of R 17 500 which was also paid on 1 May 2016. Premier also paid arrear rates and taxes of R 12750 on 1 July 2018 to the local municipality for the piece of vacant land. The vacant land was used by a local supermarket as additional parking for its clients and rent of R 24500 in total was paid to Premier for the period 1 April 2018 to 31 July 2018.

Premier has assessed capital loss of R 75 250 carried forward from the 2018 year of assessment. Premier will elect to deter its tax liability where possible.

Please assist