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At 31 October 2013 a business had machines with a cost of $120,000 and with accumulated depreciation of $ 25,000.
On 1 January 2014 thay sold a machine for $ 10,000. This machine had originally cost $30,000 on April 2012.
The business had a depreciation policy of charging straight-line depreciation at the rate of 20% per annum, on a monthly basis.What is the depreciation expense for the yesr ended 31 October 2014?
Kindly help me to solve this question.
Thank you.
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