Patsy bought a chargeable asset in May 2010 for £350,000 paying acquisition costs of £15,000

Patsy bought a chargeable asset in May 2010 for £350,000 paying acquisition costs of £15,000. In May 2016 she sold a one-quarter interest in the asset for £125,000, incurring disposal costs of £7,000. The remaining three-quarters interest in the asset was valued at £600,000 in May 2016. Patsy sold the remaining three-quarters interest in the asset for £630,000 in May 2019. Patsy acquired the following ordinary shares in Abfab plc: Date No. of shares Cost £ 19 September 2011 4,000 16,000 20 October 2013 2,000 12,000 21 November 2015 1,000 7,000 22 December 2019 3,000 24,000 13 January 2020 5,000 55,000 Patsy made no further acquisitions during 2020. On 22 December 2019 she sold 10,000 shares in Abfab plc for £10 per share. Required: a) Compute the chargeable gain arising on the chargeable asset in May 2016. b) Compute the chargeable gain arising on the chargeable asset in May 2019. c) Compute the chargeable gain or allowable loss arising on the disposal of Abfab plc shares. d) Entrepreneurs relief may apply to gains made by an individual on a material disposal of business assets. Explain what factors are necessary for Entrepreneurs relief to apply.