Contreras acquired his primary residence after 1 October 2001 for R900 000. During the current year of assessment, he sold it for R2 900 000. He used his primary residence 20% for trade purposes and claimed 15% of cost for income tax purposes. Which of the following statement is incorrect regarding the declaration of the sale of his primary residence in the income tax return? a. The capital gain attributable to trade can be reduced by the annual exclusion of R40 000 available to natural persons. b. The capital gain attributable to trade is R400 000. c. The primary residence exclusion that can be claimed R2 000 000. d. The capital gain attributable to the sale of the primary residence is R1600 000