Billy's Pie Shop is a registered VAT vendor. After particularly heavy rain one day, a motorist crashed through the shop window, causing extensive damage. Thankfully, Billy's had insurance cover, and received an insurance payout of R68 000 into its bank account a few days after claiming. Are VAT implications? there any Select one: a. No, insurance payouts are deemed capital in nature, and are thus VAT exempt. O b. No, as Billy's is not in the business of supplying insurance, any insurance receipt is VAT exempt. O C. Yes, Billy's must pay output VAT of approximately R8 870 O d. Yes, Billy's must pay output VAT of approximately R10 200