The following information pertains to the sale of Keeper (Pty) Ltds capital assets for the year ended 31 December 2018: Manufacturing asset Keeper Ltd bought a used manufacturing asset on 20 January 2001 for R500 000. The asset qualified for the section 12C allowance at 20%. On 15 January 2016, the company made improvements to the asset at a total cost of R100 000. These improvements qualify for their own allowance at 20% in terms of section 12C. The asset was sold on 30 December 2018 for R2 500 000. The company elected to use the time-apportionment to determine the valuation date value of this manufacturing asset. Land and building The company purchased an empty plot of land for R350 000 on 1 July 2017. It built a factory on this plot at a further cost of R670 000. This factory was completed and brought into use on 1 September 2017. On 30 June 2018 Keeper (Pty) Ltd sold the land and Factory to Bolt Movers (Pty) Ltd for R1 200 000. Section 13(1) capital allowance of the factory on the date of disposal wa