The federal corporate income tax rate is 15%. The Ontario corporate income tax rate is 11.5%. The combined tax rate on corporate income in Ontario is t = 26.5%. a) Suppose that a firm has purchased a $10,000,000 capital asset financed with the sale of 10-year corporate bonds. The interest on the bonds is 6%. The capital asset is depreciated using straight line depreciation over a period of 10 years. The total amount the firm can deduct as an allowable business expense at the end of the first year is $_ b) The present value of all future depreciation allowances from the purchase of the $10,000,000 capital asset is $ (It is necessary to show your calculations in the space provided to receive marks for this question.) c) The present value of all future interest deductions from the purchase of the $10,000,000 capital asset is $ (It is necessary to show your calculations in the space provided to receive marks for this question.)