1.1 Kunene wants to buy a new bicycle for the ABSA Cape Epic annual mountain race. He searched in the internet and found the advertisement below. VAT is charged at 15%. Scott Cannondale Selling Price: Selling Price: R79 999,00 VAT Excluded R88 250,00 VAT Included Deposit: 12.5% Deposit: 10% Adapted from: www.scott-sports.cont; and www.cannondale.com-en-za Study the two options above and answer the questions that follows. 1.1.1 Write down the acronym VAT. (2) 1.1.2 Determine the amount (excluding VAT) which Kunene will pay for the deposit (3) if he buys the Scott bicycle? 1.1.3 Calculate the price of the Cannondale bicycle excluding VAT? (3) 1.2 Kunene works for a company that makes bricks. He is paid a gross nalary of R9 800 per month. Kunene and his employer contribute 1% each towards UIF every month. 1.2.1 Give one benefit of contributing towards UIF as employee. (2) 1.2.2 Calculate the total UIF contribution by both employee and employer for the (3) period of one year,​