On 1 April 2023, Ubuntu (Pty) Ltd acquired the first floor and one basement parking level of a commercial building in Cape Town CBD for R7 700 000. This part of the building will be used by Ubuntu for trade purposes. Calculate the capital allowance available to Ubuntu (Pty) Ltd on the part of the commercial building they acquired for the 2024 year of assessment ended 28/29 February. Assume Ubuntu (Pty) Ltd is not a Small Business Corporation, as defined in the Act.
a. R211 750
b. R385 000
c. R Nil
d. R352 917