diff --git a/CHANGELOG.rst b/CHANGELOG.rst
index 4bd2038..2eebdc0 100644
--- a/CHANGELOG.rst
+++ b/CHANGELOG.rst
@@ -2,6 +2,12 @@
 Changes
 =======
 
+1.2.4
+=====
+
+* **Update:** It is now possible to supply a ``Fraction`` instances for the
+  ``framerate`` argument.
+
 1.2.3
 =====
 * **Update:** Passing ``frames=0`` will now raise a ValueError. This hopefully
diff --git a/tests/test_timecode.py b/tests/test_timecode.py
index 93790ad..5131616 100644
--- a/tests/test_timecode.py
+++ b/tests/test_timecode.py
@@ -1098,3 +1098,22 @@ def test_frames_argument_is_zero(self):
             str(cm.exception)
         )
 
+    def test_bug_report_30(self):
+        """testing bug report 30
+
+        The claim on the bug report was to get ``00:34:45:09`` from a Timecode
+        with 23.976 as the frame rate (supplied with Python 3's Fraction
+        library) and 50000 as the total number of frames. The support for
+        Fraction instances was missing and it has been added. But the claim for
+        the resultant Timecode was wrong, the resultant Timecode should have
+        been ``00:34:43:07`` and that has been approved by DaVinci Resolve.
+        """
+        from fractions import Fraction
+        framerate = Fraction(24000, 1001)  # 23.976023976023978
+        frame_idx = 50000
+
+        tc1 = Timecode(framerate, frames=frame_idx)
+        self.assertEqual(
+            '00:34:43:07',
+            tc1.__repr__()
+        )
diff --git a/timecode/__init__.py b/timecode/__init__.py
index cc46dfc..79db04c 100644
--- a/timecode/__init__.py
+++ b/timecode/__init__.py
@@ -23,7 +23,7 @@
 import math
 from decimal import Decimal, ROUND_HALF_UP
 
-__version__ = '1.2.3'
+__version__ = '1.2.4'
 
 
 def school_math_round(num):
@@ -151,9 +151,16 @@ def framerate(self, framerate):  # lint:ok
         if isinstance(framerate, tuple):
             numerator, denominator = framerate
 
+        try:
+            from fractions import Fraction
+            if isinstance(framerate, Fraction):
+                numerator = framerate.numerator
+                denominator = framerate.denominator
+        except ImportError:
+            pass
+
         if numerator and denominator:
             framerate = round(float(numerator) / float(denominator), 2)
-
             if framerate.is_integer():
                 framerate = int(framerate)
 
@@ -174,7 +181,7 @@ def framerate(self, framerate):  # lint:ok
                 self.drop_frame = False
             else:
                 self.drop_frame = True
-        elif framerate in ['23.976', '23.98']:
+        elif any(map(lambda x: framerate.startswith(x), ['23.976', '23.98'])):
             framerate = '24'
             self._int_framerate = 24
         elif framerate in ['ms', '1000']: