Kenneth is the owner of a flat in Tuen Mun, He let the flat out to John for 24 months from lApril 2019. The terms of the lease are as follows: l Rent: $20,000 per month. 2.Rates: $1,500 per quarter, payable by Kenneth. 3Repairs: In August 2019, Kenneth and John made repairs to the flat costing $20,000. Theyshared the cost equally. Management fee: $2,000 per month, payable by John. (John to send the fees to Kenneth for4onward transmission to the management company.) Property agency fee: $40,000 paid by Kenneth to a property agent. John defaulted in payment of rent from 1 November 2019, and moved out on 31 March 2020Kenneth took no action to recover the rent until he found out that John was adjudged bankrupton 1 November 2020. Kenneth re-let the flat to Miss Mo on 1 January 2021 for a period of three years as follows:1.Rent: $30,000 per month 2. Initial premium: $30,000, paid on 1 January 2021 3. Rates: $1,500 per quarter, payable by Kenneth.

Prepare the property tax computation and calculate the property tax payable by Kenneth for 2019/20 assuming that Kenneth was not aware of the bankruptcy of John when such computation was made (ignore provisional tax).