Prior to 2019, the accounting income and taxable income for Flounder Corporation were the same. On January 1, 2019, the company purchased equipment at a cost of $1,224,000. For accounting purposes, the equipment was to be depreciated over six years using the straight-line method and no residual value. For income tax purposes, the equipment was subject to a CCA rate of 30% (half-year rule applies for 2019). Flounder's income before tax for accounting purposes for 2020 was $13,000,000. The company was subject to a 20% income tax rate for all applicable years and anticipated profitable years for the foreseeable future. Flounder follows IFRS. (a 1) Calculate taxable income and taxes payable for 2020. Taxable income $ $ Income taxes payable $ $