Question 2 [40 Marks] Conrad Brown is 40 years old. He is a livestock farmer in the Free State. During the 2023 year of assessment, he established a cherry tree orchard on his farm. His receipts and accruals for the year of assessment follow: R INCOME Sales of livestock 2 026 900 Rentals earned (note 6) 96 000 Irrigation equipment sold (note 1) 9 800 EXPENDITURE He incurred the following expenses during the 2023 year of assessment: Lucerne and fodder 24 500 Dipping tanks constructed 55 000 Planting of cherry trees 32 500 Clearing of land to plant cherry trees 15 000 Interest incurred on a loan, the proceeds of which were used for farming purposes 12 600 Salaries of farm employees 696 800 Livestock purchased 100 000 Erection of a barn (a farm building) 25 000 Eradication of noxious plants 12 000 Deductible non-capital expenses 290 500 Note: 1. Irrigation equipment was purchased eight years ago for R8 000 (excluding VAT). It was sold on 1 June 2022 for R9 800 (excluding VAT) 2. Conrad's capital development expenditure brought forward from the 2022 year of assessment was R15 000. 3. Conrad purchased a tractor on 1 May 2021 for R130 000 (excluding VAT). 4. Conrad had 2000 livestock on hand on 28 February 2022. On 28 February 2023, 1 400 livestock were on hand. The ivestock on hand had a cost price of R6 800 each and a standard value of R40 each 6. Conrad erected a house for his farm manager. The house was complete on 31 May 2022. The manager occupied it as from 1 June 2022. The house cost R345 000. In the 2015, 2016 year of assessment, Conrad had erected six houses for his employees. 6. Conrad lets a portion of his farm that is unsuitable for farming. The lessee uses this land for a dog-kennel business. YOU ARE REQUIRED TO calculate Conrad's normal tax liability for the 2023 year of assessment./