6. XXX limited's current financial statement shows a deduction for $20,000 of legal and accounting expenses. This amount consists of the following items:
   • $5000 of legal expenses related to the purchase of an investment in shares;
   • $5000 of interest and penalties on late income tax payments;
   • $5000 of legal expenses related to the issuance of debt; And
   • $5000 of accounting fees related to the preparation of a prospectus regarding the issuance of shares

Please, referencing the applicable section of the Income Tax Act, of each of the expenses to determine their deductibility for tax purposes under division B of the Act