5 On May 5th 2017, James Brooke arrived in Malaysia. James is from Belgium. Three months later, on August 20th 2017, he bought a high-end serviced condominium for RM4,200,000 paying RM70,000 in stamp duty and RM20,000 in legal fees. Soon after the purchase, James bought varieties of furniture for RM39,000 and also paid RM90,000 for extending the balcony and installing the kitchen cabinet. Some of the renovations didn't worked out well and had cause him having dispute with the seller of the condominium. To settle things between them, James incurred legal fees of RM10,000 to defend his legal title to the condominium. In October 2020, James received an offer to sell the condominium to Miranda, who paid him a deposit of RM12,000. However, Miranda failed to get any loan facilities, thus she decided not to pursue the acquisition and the deposit was forfeited to James. On 5 April 2021, James signed a sale and purchase agreement to dispose of the condominium to Avenue Sdn Bhd for RM5,400,000. He incurred agent's brokerage fees RM15,000 and RM8,000 for the valuer fee. Required: (a) Compute the real property gains tax (RPGT) arising from the disposal of the condominium by James to Avenue Sdn Bhd. Clearly identify the disposal price, the acquisition price and the tax rate applicable to the disposal. (Note: You should indicate by the use of the word 'nil' any item referred to in the question for which no adjusting entry needs to be made in the tax computation.) (b) Advise James on the following: (17 marks) (1) His RPGT filing obligations on the disposal of the condominium. (5 marks) (ii) Whether he is entitled to elect for the lifetime private residence exemption. (3 marks) Total: 25 marks