HLOPHEKANE FARMING had the following balances when they commenced a simultaneous liquidation of the partnership:

Farming equipment (cost)....................................................	R 397 500
Farming equipment (accumulated depreciation)..............	R 134 200
Trade receivables..................................................................	R 64 600
Trade payables......................................................................	R 29 900

The following transactions took place as part of the liquidation:

1. Farming equipment were sold for R198 800

2. Debtors settled their accounts in full

3. On settlement, the creditors granted a settlement discount of R1 600

Which one of the following alternatives represents the correct net profit (or loss) made on the simultaneous liquidation of Hlophekane Farming?

a.

R 62 900

b.

R 64 500

c.

R 197 100

d.

R 460 500