Rondo Construction $($Pty$)$ Limited $($Rondo$)$is a registered VAT vendor that has a financial year end ending on the last day of of February $2024.$ The company specialises in home building and renovation. All amounts include VAT where appropriate unless stated otherwise$\mathrm{.}1.$ On $1$ May $2023$ Rondo had surplus inventory on hand that cost R$100000($excluding VAT$),$ the inventory had to be sold for R$40250$ as there was limited resale value for the inventory$\mathrm{.}2.$ Sales for the year amounted to R$1029250\mathrm{.}3.$ The company purchased trading stock of R$598000$ from A South African VAT vendor$\mathrm{.}4.$ Rondo Purchased a motor car as defined for R$575000$ on $1$ December $2023.$ This motor car qualifies for a Section $11($e$)$ allowance over $5$ years$\mathrm{.}5.$ Rondo sold a glazing machine that had been purchased new on $1$ June $2022$ for R$300000($excluding VAT$).$ This machine was sold for R$287500$ on $1$ September $2023.$ This machine Qualifies for a Section $12$C wear and tear allowance$\mathrm{.}6.$ Purchased second$-$hand light roller for work on projects R$460000$ from a South African non$-$vendor. This roller qualifies for a Section $12$C allowance$\mathrm{.}7.$ Purchased a new factory building for use as a store room R$805000\mathrm{.}8.$ Paid R$28750$ for the repair of a machine that had an electrical fire. The electrical wires that caught fire had to be completely replaced with new wires.Required:a$)$ Calculate the VAT payable$/$refundable on the above transactions for the $2024$ Year of asssement $(13$ Marks$)$b$)$ Calculate the taxable income of Rondo Construction $($Pty$)$ Limited for the year ended $28$ February $2024$ using the information in pouint $1-8(22$ marks$).$c$)$ Discuss whether the loss in value of the inventory in point $1$ is deductibe for income tax purposes in terms of the general deduction formular$(11$ marks$).$