4 - 20 Marks UWin Ltd acquired a wind turbine costing $15 million on January 1, 2023. The entity also incurred shipping charges and customs duties of $3 million and $1.5 million respectively The wind turbine was transported to the secondary wind field and installed for $0.3 million and $0.2 million respectively, but 40% of these costs were unrelated to the wind turbine's transport or installation costs. Depreciation on the wind turbine is to be spread equally over a 12 year period, while capital allowances are to be granted at a rate of 10% on the reducing balance basis. There are no other assets which give rise to taxable temporary differences. The entity reported taxable profits of $30 million and $25 million for the years 2023 and 2024 respectively. The rate of income tax applicable to the entity is currently 25%. REQUIRED: a. Calculate the applicable depreciation and capital allowances for both years. b. Determine the deferred tax balances at the end of both years. c. Determine the total tax expense for both years. Show all relevant workings. (16 marks) d. In accordance with IAS 12, explain a deferred tax asset and how it should be treated (4 marks)