Ubuntu (Pty) Ltd acquired a second-hand delivery vehicle at a cost of R80 000 on 1 September 2023 and immediately brought it into use in its business, for the purpose of making deliveries. The delivery vehicle was used throughout the 2024 and 2025 year of assessment ended 29 February 2024 and 28 February 2025. In terms of Binding General Ruling No. 7, an acceptable write-off period for this asset would be four (4) years.

Calculate the tax value of the delivery vehicle as at 28 February 2025. Assume Ubuntu (Pty) Ltd is not a Small Business Corporation, as defined in the Act.