Question 5 Answer all parts of this question a) The table below shows the calculation of the profit before tax for ABC plc: Amount in millions Revenue Expenses (excluding tax) Profit before tax 720 (640) 80 The following additional information is available: - Revenue includes a government grant of 15m which is not taxable. Expenses include: . Charitable donations of 2m made by ABC plc during the period. Il. Depreciation amounting to 12m, related to properties owned by Charitable donations are not deductible for tax purposes. ABC plc, which are depreciated on a straight-line basis over 20 years. The tax authorities apply a different depreciation schedule to ABC plc's properties, resulting in a tax depreciation for the year of F15m, which was included in ABC plc's tax return. The statutory tax rate for the period is 30%. Required Calculate the tax expense for the period. 15 marks b) Explain the concept of deferred tax expense. Provide a numerical example to illustrate your answer. 10 marks Total 25 marks)