Please Answer the following question, No additional graph/data available.

Question 4 An industrial corporation bought a manufacturing facility 3 years ago for $5,000,000. Due to the strategic location of the facility, the company decided to sell the facility now for $6,500,000. Assume CCA rate is 15% (and Declining Balancemethod for tax depreciation by default) and an effective tax rate of 35%. What is the disposal tax effect of this asset? Notes: you need to be specific in your answer and classify whether there is capital loss/gain and whether taxes are payable or a tax credit can be claimed. The half-year rule applies of course in this question by default