Ngwenya (Pty) Ltd buys stock in bulk in order to take advantage of bulk discounts. On 28 February 2022, Ngwenya (Pty) Ltd had a closing stock on hand at the warehouse, valued at R2 400000 . During the 2023 year of assessment the company sold trading stock for R2 900000 . Due to some financial constraints, the company did not buy any trading stock during the 2023 year of assessment and had closing stock valued at R420 000 on 28 February 2023. Assume the cost and market value is the same. Calculate Ngwenya (Pty) Ltd's taxable income for the year of assessment ending on 28 February 2023. a. R4 880000 b. R920 000 c. R2 900000 d. R(920000)