ABC Limited, a South African company with a February year$-$end, purchased

trading stock on credit from a supplier in China for $14000$ on $1$ January $2024.$

The debt was paid on $14$ February $2024.$ All trading stock was sold by the end of

February $2024.$

Assume the following exchange rates on the relevant dates:

Date Spot rate

$1$ January $20241=$ R$2\mathrm{.}50$

$14$ February $20241=$ R$3\mathrm{.}00$

$29$ February $20241=$ R$2\mathrm{.}80$

Calculate the total deductions available in the $2024$ year of assessment as a result

of the above transactions for ABC Limited. Clearly specify whether the exchange

difference is a loss or a gain.