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Ngwenya (Pty) Ltd manufactures vehicles. During the year of assessment the company incurred the following costs to manufacture one vehicle:
-Production costs = R2 800 000
-Testing costs to get the vehicle roadworthy = R90 000
-Delivery truck traffic fine due to worn-out windshield wipers = R1 500
-Transportation costs to the warehouse = R25 000
What is the cost of this trading stock item for valuation purposes?