Assume the following taxpayer information: The taxpayer is a South African manufacturing company (not a small business corporation as defined) with a 31 March 2022 year of assessment. Calculate the base cost for purposes of capital gains tax for the office building BELOW. Assume paragraph 26 of the 8th Schedule applies. a. R1 325 000 b. R1 450 000 c. R1 475 000 d. R1 300 000

Assume the following taxpayer information: The taxpayer is a South African manufacturing company (not a small business corporation as defined) with a 31 March 2022 year of assessment. Calculate the base cost for purposes of capital gains tax for the office building BELOW. Assume paragraph 26 of the 8th Schedule applies. Information pertaining to office building: Events Date Amount Sold - proceeds 30 November 2021 Puchased cost price 1 June 2001 Valuation costs to determine market value as at 1 October 2001 15 May 2004 Market value 1 October 2001 1 October 2001 Time apportionment base cost 20% rule value 1 October 2001 Tax value at date of sale O a. R1 325 000 O b. R1 450 000 O c. R1 475 000 O d. R1 300 000 R R R R R R R 3 500 000 1 300 000 25 000 1 450 000 1 396 998 695 000 1 300 000