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Qabaqongo Oils is a sunflower oil production and distribution business, supplying various retailers and wholesalers throughout Mpumalanga. The company is a partnership between Khanyisa and

Qabaqongo Oils is a sunflower oil production and distribution business, supplying various retailers and wholesalers throughout Mpumalanga. The company is a partnership between Khanyisa and Zinhle. Below is the relevant information regarding the partnership's financial activities for the year ending 30 June 2024.
Extract of balances as at 30 June 2024:
\table[[,R],[inventory,R106,600],[Bank (positive),R293,600],[Trade receivables control,R199,200],[Vehicles at cost,R708,200],[Equipment at cost,R209,300],[Factory building at cost,R575,100],[Accumulated depreciation: Vehicles,R41,700],[Accumulated depreciation: Equipment,R68,800],[Allowance for credit losses,R3,000],[Trade payables control,R119,800],[Capital: Khanyisa,R431,500],[Capita: Zinhle,R246,700],[Current account:' Khanyisa (Cr: 1 July 2023),R15,300],[Current account: Zinhle (Dr,1 July 2023),R9,300]]
Supplementary information:
2.1 Details of the partnership agreement between the partners:
2.1.1 An annual interest rate of 6% is applied to the opening balances of the partners' capital and current accounts.
2.1.2 Profits and losses are shared equally between Khanyisa and Zinhle.
21.3 The monthly salaries to which the partners are entitled are R15000 and R20000 for Khanyisa and Zinhle respectively. As of 30 June 2024, the salaries paid to the partners were only up to 30 April 2024.
2.2 Adjustments at the end of the year:
2.21 The business aimed to expand its operations by acquiring additional land for sunflower cultivation. On 30 June 2024, KEN Corp provided a loan of R468000 to facilitate the purchase of a farm. The farmland was acquired on 2 July 2024 at the cost of R468,000. This loan is classified as long-term, with an 8% annual interest rate, to be repaid over 6 years with equal instalments starting from 30 June 2025. This transaction has not yet been recorded.
2.2.1 On 30 June 2023, it was decided that an outstanding debt of R17000 owed to the business was unlikely to be recovered and should be written off as bad debt.
Which one of the following alternatives represents the correct amount that must be disclosed as property, plant and equipment in the statement of financial position of Qabaqongo Oils as at 30 June 2024?
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