A farmer had the following livestock on hand at the beginning of the year of assessment. R 10 bulls at standard value R50 each 500 25 oxen at standard value R40 each 1 000 1 200 cows at standard value R40 each 48 000 600 tollies and heifers at standard value R30 each 18 000 140 calves at standard value R4 each 560 68 060 He bought a further 300 cows during the year at a cost of R220 000. He derived an income from farming operations (before the deduction of any expenditure) of R550 000 during the year. He had the following livestock on hand at the end of the year of assessment: 9 bulls at standard value R50 each 23 oxen at standard value R40 each 1 400 cows at standard value R40 each 500 tollies and heifers at standard value R30 each 220 calves at standard value R4 each 450 920 56 000 15 000 880 73 250 All the livestock bought during the year was still on hand at the end of the year. The market value of the livestock on hand at the end of the year of assessment was R1 million. Calculate the deduction that will be allowed under s 11(a) for the cows bought during the year of assessment. (10 marks) A farmer had the following livestock on hand at the beginning of the year of assessment. R 10 bulls at standard value R50 each 500 25 oxen at standard value R40 each 1 000 1 200 cows at standard value R40 each 48 000 600 tollies and heifers at standard value R30 each 18 000 140 calves at standard value R4 each 560 68 060 He bought a further 300 cows during the year at a cost of R220 000. He derived an income from farming operations (before the deduction of any expenditure) of R550 000 during the year. He had the following livestock on hand at the end of the year of assessment: 9 bulls at standard value R50 each 23 oxen at standard value R40 each 1 400 cows at standard value R40 each 500 tollies and heifers at standard value R30 each 220 calves at standard value R4 each 450 920 56 000 15 000 880 73 250 All the livestock bought during the year was still on hand at the end of the year. The market value of the livestock on hand at the end of the year of assessment was R1 million. Calculate the deduction that will be allowed under s 11(a) for the cows bought during the year of assessment. (10 marks)