Reddy is 58 years old. He sold his house for R10 000 000 during the current year of assessment. Included in the amount is estate agent commission paid to the estate agents. The estate commission is 5% of the selling price. The property was acquired in 2017 for R6 800 000. Reddy paid an estate valuator R50 000 to value his property before he could determine the selling price. Transfer costs amounted to R20 000. Total costs incurred to date for rates and taxes amounted to R109 000. When he acquired the property, he took out insurance with his bank and had paid R120 000 to date. He pays a monthly service for gardening, the total accumulated cost to date is R15 000. Advertising cost incurred to find the buyer were R12 000. YOU ARE REQUIRED to determine the base cost of the property. Question 29 Not yet answered Marked out of 1 Flag question Select one: a. R7 126 000 b. R7 332 000 c. R7 382 000 d. R6 882 000