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Calculate the allowance that Myboss Ltd is entitled

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Reference no: EM133031419

Question - Myboss (Pvt) Ltd leases premises from Mr. A Phiri from the beginning of 1st January 2020. The lease agreement is for a period of 50 years which can be extended. On 1st January 2020, Myboss (Pvt) Ltd paid an amount of $500,000 in addition to a monthly rent of $600,000.

REQUIRED - Calculate the allowance that Myboss (Pvt) Ltd is entitled to during the year ending 31st December 2020?

Reference no: EM133031419

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