4 Deductions Explain clearly, with reference to relevant legislation and case law, the tax implications of the following situation: Sports Excel Ltd (also referred to here as "the company") manufactures sports shoes in a factory in Christchurch. In September 2022 the company imported two large machines to manufacture sports clothing. The machines cost $115,000 each which was funded through a bank loan. The annual interest payable on the bank loan is $12,500. Two of the company's employees spent four (4) weeks installing and testing the machines. The purchase of the machines is part of the company's strategy to expand its product line and become a major international supplier of sportswear and shoes. In order to further promote its sports shoes business, in November 2022 Sports Excel Ltd sponsors a major national triathlon event. REQUIRED: Sports Excel Ltd seeks your advice on whether it can claim a deduction for: (i) the cost of installing the machines. (11 marks) (ii) the cost to sponsor the major triathlon event. (5 marks) (iii) the annual interest of $12,500. (2 marks) TOTAL: 18 MARKS