Siyeza Traders is an enterprise that sell motor vehicles in the ordinary course of business at a mark-up of 45% on cost. During the current financial period, Siyeza Traders sold eight motor vehicles for a cash price of R80 000 each (15% VAT inclusive). Round your answer off to the nearest Rand.

2. Income earned from the sale of motor vehicles will be disclosed in the statement of profit or loss and other comprehensive income as an amount of . (1) R640 000 (2) R441 379 (3) R544 000 (4) R556 520 (5) R352 000