Solve the following question:

Company ABC commenced operations on January 2016. Financial performance for the first year was as follows: Sales revenue: $1, 500,000 Labor, materials and overhead costs: $600,000 The company purchased a warehouse worth $500,000 and financed from bank on January 1^st, 2016 with an interest rate 10% For depreciation purpose, the purchase cost is divided $100,000 in land and into $400,000 in building with a depreciation rate d=15% for the first year. The company also bought equipment worth $200,000 with a depreciation rate d=15% for the first year The combined corporate tax rate is 40% (not legible for small business) Determine: (a) The total CCA (depreciation) allowed for 2016 (b) Taxes that ABC paid in 2016