1. Gane-Songe Ltd, a Mining Company located at Nangodi in the Upper East Region, commenced operations in 2013 and incurred the following costs from inception of operation

GHS

Reconnaissance cost 120,000,000.00

Prospecting cost 140,000,000.00

The company started commercial production in January 2016. The following assets were acquired in December 2015

Computers 400,000.00

Plant and Machinery for Mining 500,000.00

Furniture and Fittings 600,000.00

Building 400,000.00

Compute the capital allowance for Gane-Songe Ltd for 2016 year of assessment.