*The lease inception was determined as 1 August 2022

*A lease premium of R80 000 is payable monthly in arrears *The lease is 15 years with an option to extend for a further 5 years.Lebelok is till undecided whether tbe option to extend will be utilised or not.

Lebelok commenced with the improvements on 10 August 2022. A total amount of R280 000 was spent to effect the improvements and the completion date was marked as 31 August 2022 by a property inspector

Required

Calculate the leasehold expenditure

Financial year period 1April 2022- 31 March 2023