Triplecom Insurance Company Ltd, is a resident company carrying on both general and life assurance businesses. The following information relates to the insurance company's business for the year ended 31 December 2020: Additional information: 1. Claims outstanding for general business were as follows: - As at 1 lanuary 2020 Sh.6,640,000. - As at 31 December 2020 Sh.7,000,000. 2. General expenses under general insurance include cost of computers Sh. 800,000 and cost of saloon car Sh.3,260,000. 3. Reserves for unexpired risks for general insurance were as follows: - As at 1 January 2020 Sh.3,240,000. - As at 31 December 2020 Sh.6,200,000. 4. The Life assurance fund balance was valued by an actuary at Sh.310,000,000 as at 31 December 2020.8% of this fund balance was reconmended to be transferred for the benefit of shareholder. At the beginning of the year, the fund had been valued at Sh. 250,000,000. 10% of the surplus was recommended to be transferred for the benefit of shareholders. 5. Outstanding premiums in respect of life insurance business were as follows: - As at 1 January 2020Sh.12,000,000. - As at 31 December 2020 Sh.9,200,000. 6. Other income received by Triplecom Insurance Company Lid, comprised: - Interest from fixed deposit account Sh 780,000. - Dividend received from qualifying company Sh 3,000,000 (net). - The company owns the building which houses its offices. Part of the office space is rented out to other tenants. In the year to 31 December 2020 , the company received Sh. 2,800,000 net rental income from their estate agents. Property management fees amounting to Sh,3,200,000 for the year to 31 December 2020 had not been deducted. Required: The taxable income or loss for Triplecom Insurance Company Ltd. for the year ended 31 December 2020. (12 marks)