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Bazooka Ltd is a listed public company that rents out cars and sells second-hand cars. It has branches in all nine provinces across South Africa

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Bazooka Ltd is a listed public company that rents out cars and sells second-hand cars. It has branches in all nine provinces across South Africa and has been in operation for more than ten years. Bazooka Ltd acquires private cars and minibuses which are rented out to its customers. The cars are then sold after they travel a certain number of kilometres as second-hand cars. The car rental industry has been booming since the travel restrictions have been lifted and this has inspired Bazooka Ltd to pursue its plans to purchase a new building. The new building will serve as the new head-office premises. Bazooka Ltd is a registered value-added tax (VAT) vendor. The standard VAT rate is 15%. Bazooka Ltd needs your assistance with the analysis of the spreadsheet below to gain insight into their performance, which will assist with future decision-making: Bazooka Ltd provided you with additional information of the spreadsheet above which was as follows: (a) VAT for Bazooka Ltd is at 15% (refer to cell B4) (b) Bazooka Ltd rents out five classes of cars: Class A cars are standard 5 door cars; Class B cars are luxury 5 door cars; Class C cars are standard minibuses; Class D cars are luxury minibuses; Class E are super cars. Class A to Class E are all classified as "cars". (c) Bazooka Ltd targets to rent out all classes of cars to its various customers (refer to cells B14 to F14 ) (d) The different class of cars are rented out at a minimum price per day inclusive of VAT (refer to cells B16 to F16 ) (e) Bazooka Ltd is assessing the affordability of a bond to the value of R20 million (refer to cell B7), to purchase a new building which will serve as their new head office. The bond will be financed over a period of 240 months (refer to cell B9) at an annual interest rate of 10.25% (refer to cell B10). Bond repayments are expected to be made at the beginning of each month with no residual at the end of the bond term. A deal had been struck to obtain the building at Cost price (excl VAT) (refer to cell B8). Required Use the information provided on the spreadsheet to answer the following questions. Note: Where it is indicated that your formula will be copied to other cells, your formula must take absolute and relative addresses into account. 5.1 Which spreadsheet formula was entered in cell B8 to determine the price of the building excluding VAT? 5.2 Which spreadsheet formula was entered in cell B11 to calculate the bond repayments of the building for Bazooka Ltd? Please note: Your answer must be reflected as positive and must be rounded to zero decimal digits 5.3 Which spreadsheet formula was entered in cell G19 to calculate the total car rental income

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