Valdez Corporation commenced operations on January 1, 1999. The company's financial performance during its first year of operation was as follows: Sales revenues, S1,500,000 Labor, material, and overhead costs, S600,000 The company purchased a warehouse worth $500,000 in February. To finance this warehouse, the company issued $500,000 of long-term bonds on January 1, which carry an interest rate of 10%. The first interest payment occurred on December 31 For depreciation purposes, the purchase cost of the warehouse is divided into S100,000 in land and S400,000 in building. The building is a CCA Class 1 asset and is depreciated accordinglv On January 5, the company purchased $200,000 of equipment, which falls into CCA Class 43 The corporate tax rate is 40%. (a)Determine the total CCA allowed in 1999 (b) Determine Valdez's income taxes for 1999 Valdez Corporation commenced operations on January 1, 1999. The company's financial performance during its first year of operation was as follows: Sales revenues, S1,500,000 Labor, material, and overhead costs, S600,000 The company purchased a warehouse worth $500,000 in February. To finance this warehouse, the company issued $500,000 of long-term bonds on January 1, which carry an interest rate of 10%. The first interest payment occurred on December 31 For depreciation purposes, the purchase cost of the warehouse is divided into S100,000 in land and S400,000 in building. The building is a CCA Class 1 asset and is depreciated accordinglv On January 5, the company purchased $200,000 of equipment, which falls into CCA Class 43 The corporate tax rate is 40%. (a)Determine the total CCA allowed in 1999 (b) Determine Valdez's income taxes for 1999