Logic Pte Ltd which is in the business of management consultancy services, has two properties which it acquired for investment purposes. In the year ended 31 December 2023, Property A could not be rented out after the termination of the previous tenancy agreement in March 2023, resulting in a net rental deficit of $12,000. Property B, on the other hand, being in a prime district area, generated net rental income of $10,000. Logic Pte Ltd reported adjusted profits of $20,000 for the year ended 31 December 2023 and capital allowance of $8,000 was claimed. What is Logic Pte Ltd’s assessable income for Year of assessment 2024? A. $22,000 B. $10,000 C. $34,000 D. $12,000

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