QUESTION 2 Mr. Ragesh acquired a residential property in Selayang on 30 August 2015 for RM399,600. Stamp duty and legal fees amounted to RM6,992 and RM3,247 respectively. He renovated the property for RM41,435 a year later. Mr. Ragesh sold the said property for RM718,000 on 15 January 2019 and incurred the following expenses: i. ii. Valuation fee - RM7,990 Brokerage fee RM21,540 Mr. Ragesh had forfeited a deposit RM7,000 from a prospective buyer just prior to this successful sale. Interest on a mortgage loan amounted to RM14,000 and this was settled from part of the sale proceeds. Required: A. With the reference to the Real Property Gains Tax 1976 (as amended), compute the chargeable gain to Mr. Ragesh on the disposal of the residential property. (15 marks) B. Real Property Gain Tax (RPGT) is a form of Capital Gains Tax that is imposed on the disposal of property in Malaysia. Discuss (10 marks) [25 Marks]