The following information applies to Cullumber Corporation, which reports under IFS. 1. Prior to 2022, taxable income and accounting income were identical.

2. Accounting income was $1.7 million in 2022 and $1.42 million in 2023.

3. On January 1, 2022, equipment costing $1.38 million was purchased. It is being depreciated on a straight-line basis over eight years for financial reporting purposes, and is a Class 8-20% asset for tax purposes .

4. Tax-exempt interest income of $60,000 was received in 2023

5. The tax rate is 30% for all period 6. Taxable income is expected in all future yea

7. Cullumber had 100,000 common shares outstanding throughout 2023.

Calculate the amount of capital cost allowance and depriciation expense for 2022 and 2023, and the corresponding carrying amount and underpreciated capital cost of the depriciable assets at the end of 2022 and 2023.

Capital costs	Underpraciated capital costs	Depriciated expense	Netbook Value
		172500
		172500