Zirco Sdn Bhd incurred the following costs on the construction of a factory for the production of aluminum beverage cans: Cost of the land Consultant's fee for construction proposal Contractor fees Electrical wiring and plumbing Interest on money borrowed exclusively to fund the construction of the factory. Year of assessment 2018 (RM) 450,000 40,000 200,000 Nil Nil Year of assessment 2019 (RM) 200,000 Nil 300,000 80,000 60,000 The construction of the factory was completed during the basis period for the year of assessment 2019 and it was immediately put into use. 20% of the total floor space is used as office for management workers. Required: Compute the industrial building allowances (IBA) on Zirco Sdn Bhd for the year of assessment 2019. (10 marks) (b) After 2 years, Zirco incurred expenditure on the alteration of the factory on the following expenses: 1) Repaired part of the roof at the production section with a new roof of the same quality because of roof leaking problem. ii) Removed the entire layer of the slippery cement floor in the packing section and replacing it with quality tiles to avoid the risk of accidents and to smoothen the work process at that section. iii) Replaced the wall between the section for grading and the section for the placement of machinery with a sound-proof wall. The alteration is needed to reduce noise pollution. Required: Justify whether each expenditure mentioned above can be treated as qualifying building expenditure (QBE) for the purpose of claiming IBA. (9 marks) (c) Discuss the terms "basis year" and "basis period" for a year of assessment. Provide examples. (6 marks) Total: 25 marks