The following information applies to Riverbed Corporation, which reports under IFRS. 1. Prior to 2019, taxable income and accounting income were identical. 2. Accounting income was $1.7 million in 2019 and $1.51 million in 2020. 3. On January 1, 2019, equipment costing $1.30 million was purchased. It is being depreciated on a straight-line basis over eight years for financial reporting purposes, and is a Class 8-20% asset for tax purposes. 4. Tax-exempt interest income of $60,000 was received in 2020. 5. The tax rate is 30% for all periods. 6. Taxable income is expected in all future years. 7. Riverbed Corporation had 100,000 common shares outstanding throughout 2020. * Your answer is incorrect. Calculate the amount of capital cost allowance and depreciation expense for 2019 and 2020, and the corresponding carrying amount and undepreciated capital cost of the depreciable assets at the end of 2019 and 2020. Capital Cost Undepreciated Depreciation Net Book Value Allowance Capital Cost Expense 2019 $ $ $ $ 2020 Determine the amount of current and deferred tax expense for 2020. (Enter negative amounts using either a negative sign preceding the number e.g.-45 or parentheses e.g. (45).) Current income tax expense $ Deferred tax expense $ eTextbook and Media List of Accounts Your answer is partially correct. Prepare the journal entries to record 2020 income taxes. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.)