Question 34 Robert is a Hong Kong permanent resident who does not own any property in HK. In October 2021, he decided to buy an apartment in Shatin as his primary residence for HK$8,000,000. < The apartment is old and substantial renovation cost would be incurred, which is estimated to be HK$600,000. The legal fee is around HK$5,000. The commission is 1% of the purchase price. Robert would like to borrow as much as permitted under the current regulation to finance the purchase. < Required: < a) < Estimate how much cash Robert would need to prepare for this acquisition, including various fees such as deposit, stamp duties, etc. < (14 marks) < b) < Robert wants to know what are some common expenses that an owner will need to pay when living in the property. Briefly discuss these items. < (6 marks)