Golf Co Inc is an export company, and a properly registered Foreign Trade Enterprise for VAT purposes in China. During May 2022 it purchased clothes from a manufacturer for RMB 614,000 (VAT Exclusive), and obtained a special VAT invoice, with VAT to the amount of RMB 79,820 for that purchase. Subsequently, during May 2022, Golf Co Inc exported these clothes to North Korea for the price of RMB 969,500 , including insurance and freight to the amount of RMB 48,000 (on CIF basis). The VAT Refund rate for clothes =11 %. Required : Calculate the amount of the export VAT Refund (if any) due to Golf Co Inc on the export of the clothes during May 2022, by answering Questions 41 to 42 below : [2 Marks] 41. Calculate the amount of the export VAT Refund (if any) due to Golf Co Inc on the export of the clothes during May 2020 : (67,540) VAT Refund Not applicable: No VAT refund \& No VAT Creditable Carry-forward amount (79,755) VAT Refund (53,170) VAT Refund