State the tax base of each of the following assets. (a) A machine cost $10,000. For tax purposes, depreciation of $3,000 has already been deducted in the current and prior periods and the remaining cost will be deductible in future periods, either as depreciation or through a deduction on disposal. Revenue generated by using the machine is taxable, any gain on disposal of the machine will be taxable and any loss on disposal will be deductible for tax purposes. (b) Interest receivable has a carrying amount of $1,000. The related interest revenue will be taxed on a cash basis. (c) Trade receivables have a carrying amount of $10,000. The related revenue has already been included in taxable profit (tax loss). (d) A loan receivable has a carrying amount of $1m. The repayment of the loan will have no tax consequences. State the tax base of each of the following liabilities. (a) Current liabilities include accrued expenses with a carrying amount of $1,000. The related expense will be deducted for tax purposes on a cash basis. (b) Current liabilities include interest revenue received in advance, with a carrying amount of $10,000. The related interest revenue was taxed on a cash basis. (c) Current liabilities include accrued expenses with a carrying amount of $2,000. The related expense has already been deducted for tax purposes. (d) Current liabilities include accrued fines and penalties with a carrying amount of $100. Fines and penalties are not deductible for tax purposes. (e) A loan payable has a carrying amount of $1m. The repayment of the loan will have no tax consequences