Note to student Do not round off values in the calculations: Maintain precision by rounding all utermediate and final arriswers to find decimal places to preverit any impact on the linal result. Present all steps clearly in each caloulation to ensure a thorough understanding of the process. Always utilise the designated reporting templates and adhera to the ralevant reporting requirments. Question $1[12$ Marks$]$ Happy Lid entered into a lease agreement with Runners Lid for the use of a plant purchased by Happy Ltd on $1$ January $2020$ for R$575000.$ The lease commenced on $1$ January $2022$ and is set for a duration of three years: At the end of the lease period. Runners Ltd had the option to purchase the plant at its market value and exercised this option, acquiring the plant for R$65000.$ Happy Ltd depreciales plant over three years on the straight$-$line basis. SARS tax componies at $\backslash (27\backslash \%\backslash )$ Happy Ltd depreciated the plant on a straight$-$ine basis over three years. Runners Ltd purchased the plant at the end of the lease period for R$65.000($at the unguaranteed residual value of the plant$).$ The lease commenced on $1$ January $2022$ for a period of three years. Annual lease instalments were payable by Runners Inc on $31$ December of each year throughout the lease term. Required: $1\mathrm{.}1.$ Calculate the deferred tax movements per financial year, coverity the lease period, in the records of Happy Ltd$.12$ Prepare the journal entries in the accounting records of Happy Ltd for the duration of the lease: $(8)$