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On 1 January 2021, a company which prepares financial statements to 31 December ...

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On 1 January 2021, a company which prepares financial statements to 31 December each year buys an item of equipment for R200 000. Useful life is estimated to be 6 years, and residual value is expected to be approximately R15 000. The company uses the diminishing balance method of depreciation at a rate of 35% per annum. To the nearest rand, the depreciation of this item for the year to 31 December 2022 would be:

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