Xactory Sdn Bhd (Xactory) is a regional distributor of mobile phones and owns a van used for delivery of mobile phones to its retailers. The van was purchased in the year of assessment 2014 at a cost of RM87,000. In the year of assessment 2020 (YA2020), the van was stolen when the sales representative of the company was on a routine trip to deliver the goods to the retailers. RM100,000 worth of mobile phones were stolen along with the van. Both the van and the goods were insured whereby Xactory incurred an insurance premium expense of RM10,000, of which RM6,500 was for the lorry and RM3,500 was for the goods. The insurance company made a compensation payment of RM160,000 to Xactory, of which RM60,000 was the compensation for the loss of van. Required: Discuss the tax treatment for: (i) Purchase of van (ii) Payment of insurance premium by Xactory (iii) Receipt of compensation from the insurance company. (7 marks)