Practising Question Mr. A. Hammond has been engaged in the employment of Koofori Consultancy Limited as GH C79,500. He enjoys the following: A. Cash allowances: Responsibility GHC750 per month Inducement 25% of basic salary Child education GHC500 per month General services GH 6625 per month II. Benefits in kind: A soft furnished accommodation A saloon car, driver and fuel - Mr. Hammond is single. He has four children, all of whom are in registered first and second cycle educational institutions in Ghana. He lives with his mother and father aged 57 and 66 respectively. - He contributes to the Social Security Fund. He took an insurance policy on his life in a capital sum of GH$75,000 at an annual premium of GHC22,500 on his life with Life Assurance Ghana Ltd. Required: a) Determine Mr. Hammond's chargeable income b) His tax liability for the 2021 Year of Assessment