a. Mr Ma and Mr Fan are owners of a property in Shamshuipo with ownership ratio of 40% to 60%. The property was let to Mr Ng for many years under the following terms:

(a) Monthly rent: $10,000

(b) Rates: $3,000 per quarter payable by the landlord

(c) Management fee: $800 per month payable by Mr Ng Due to financial difficulties, Mr Ng was only able to pay $5,000 per month starting from 1 February 2020. Mr Ng promised to pay the balance of rent once his financial position improved and the owners agreed to his request. Starting from 1 June 2020, Mr Ng did not pay any rent. He moved out of the property on 31 January 2021 and was then untraceable. It was agreed by the assessor that the rent owed by Mr Ng was irrecoverable after he had moved out from the property on 31 January 2021.

The property was re-let to Mr Choi on 1 March 2021 for a period of 30 months under the following terms: (a) Premium: $90,000 payable on 1 March 2021 (b) Monthly rent: $5,000 (c) Rates: $3,000 per quarter payable by the landlord (d) Management fee: $800 per month payable by Mr Choi

The owners had incurred the following expenses during the years of assessment 2019/20 and 2020/21:

	2019/2020	2020/2021
(a) Outstanding management fee owed by Mr Ng		4,800
(b) Repairs and decoration	3,500	12,000
(c) Mortgage loan interest in respect of mortgage loan to finance the purchase the property	60,000	52,000
d) Rates	9,000	12,000

Mr Ma elected personal assessment for the years of assessment 2019/20 and 2020/21. Required: Compute the net assessable values transferred to personal assessment in respect of the property owned by Mr Ma and Mr Fan for the years of assessment 2019/20 and 2020/21.