Mpho is 28 years old. Mpho works for J-Properties. On 1 June, in the current year of assessment J-Properties borrowed Mpho R800 000 at an interest rate of 7%. The official interest rate is 9%. YOU ARE REQUIRED to calculate the taxable benefit that needs to be included in Mpho's gross income.

Select one:

a.R16 000

b.R56 000

c.R72 000

d.R12 000