QUESTION $1[20$ Marks$]$ X$1$ Enterprises reported an operating profit before tax of R$1800000$ for the year of assessment ended $28$ February Thecompany is subject to normal taxation of $27\%$ after considering the following transactions: The following donations were made during the current year of assessment: On $1$ September $2023$ a payment of R$10000$ was made to a registered PBO and the appropriate receipt was filed. Taxable income amounted to R$85000$ on this date. On $5$ December $2023$ a payment of R$2000$ was made to a registered PBO, on which date the taxable income amounted to R$115000.$ On $10$ January $2024,$ R$12000$ was paid to a registered PBO when taxable income amounted to R$110000.$ X$1$ Enterprises issued $100$ equity shares to each of its $30$ employees as part of a broad$-$based employee share plan. Employees are required to pay R$50$ per share, while the market value of each share was R$125$ at the time of issuance. On $1$ January $2024,$ X$1$ Enterprises entered into two three$-$year learnership agreements with employees. Seth, one of the employees, holds an NQF $6$ qualification, and the other, Ariella, holds an NQF $8$ qualification. Ariella has a defined disability. X$1$ Enterprises, with a February year$-$end, entered into a restraint of trade agreement following the termination of its Legal Director's employment. The company made a payment of R$1000000$ on $27$ February $2024,$ initiating a restraint period of forty$-$eight months. The payment is taxable to the former employee. X$1$ Enterprises paid a monthly insurance premium of R$2000$ for six months of the assessment year, in respect of a life insurance policy taken out on key personnel. The HR department recorded the fringe benefit on the affected key personnel's IRP $5$s$.$ Annuities were paid to the following individuals during the current year of assessment: During the audit of the tax records for the year of assessment ending $28$ February $2023$ the assessed loss of R$62000$ was confirmed. You are required to: Calculate the tax liability of X$1$ Enterprises for the $2024$ year of assessment. Include all workings and calculations.