these question are Taxation related question bases on New Zealand CFC and FIF laws

Queen Ltd (a company) holds shares in an overseas company (not Australian):

• the shares were acquired at a cost of $45,000;
• on 31 March 2022, market value of the shares was $55,000;
• on 31 March 2023, market value of the shares was $65,000;
• during the year ended 31 March 2023, Queen Ltd bought an additional 3,000 shares for $44,000 and later sold 2,000 shares for $42,000.

Q1, as I understand under the New Zealand Income Tax Act 2007 FIF have 5 calculation method, CV method can't be used by a company and only apply to individuals, but I can't find the relation Section to support that statement under the act. also if using FDR method its only stated to person which i know it can be use by company, but also i can't find the act to support that.

Q2.

ISSUE 2: Which of the five FIF methods Queen Ltd can use for its foreign investments? (20 marks).

Use the following template to answer Issue 2. Please do not change the formatting. Indicate Y (Yes) or N (No) as to whether each of those methods can be used. Provide a short reasoning for indicating Y or N and also give section references to support your reasoning.

Method	Y/N	Reasoning	Section References
Fair dividend rate	Y
Comparative value	N
Cost method	N	because market value is known
Deemed rate of return
Attributable FIF income	Y