On 28 February 2023, Cape Ltd acquired 100% of the share capital of Point Ltd in a business combination and thus obtained control over Point Ltd in terms of IFRS10. Below is the Statement of Financial Position of Point Ltd as at acquisition date along with the corresponding fair values that were determined at acquisition date in terms of IFRS 3: Additional information: - Point Ltd accounts for all property, plant and equipment using the historical cost model in terms of IAS 16. - Point Ltd accounts for all investment property using the cost model in terms of IAS 40. - Point Ltd internally generated a brand called "Ocean's Two" which was not recognised by Point Ltd in its own financial records. An independent valuator valued the brand to be a fair value of R350 000 on acquisition date. It is estimated that the brand has a useful life of 50 years at acquisition date. SARS did not provide any allowance on the "Ocean's Two" brand. - The at-acquisition tax bases of Point Ltd's assets and liabilities in its financial records remained unchanged i.e., they are equal to the respective carrying values. - Assume an Income Tax rate of 28% and a Capital Gains Tax inclusion rate of 80% thereof. REQUIRED: Calculate the total fair value of the identifiable net assets of Point Ltd at acquisition date in terms of IFRS 3 , which was acquired by Cape Ltd. Consider all tax implications however Value Added Tax (VAT) implications must be ignored. Show and reference all your workings clearly.| (15 marks)