Campbell Limited, located in Arama Town, has been in business since 1994 and manufactures plastic containers. The company’s accounts for the year ended December 31, 2014, showed the following results:

Additional Information:

1. Unutilised Capital Allowance brought forward: N70,000
2. Tax Written Down Values of assets purchased in 2011:
   • Motor vehicles: N40,000
   • Furniture and Fittings: N60,000
   • Plant: N70,000
3. In 2014, the company purchased the following assets:
   • 2 Motor vehicles: N840,000
   • 4 Furniture and Fittings: N160,000
   • 1 Generating set: N300,000

Required:

a. Compute Capital Allowances assuming assets purchased in 2011 have been used for two years. (7 Marks)
b. Compute the Total Profits, Companies Income Tax (CIT), and Tertiary Education Tax (TET) for the relevant year of assessment. (8 Marks)