Question

2.
On 1st January, 2015 Mohan purchased a machine for a sum of 1,00,000 and it
is estimated that its life will be three years. He decided to write off depreciation
at 40% on diminishing value of the asset. What is the residual value at the end of
third year?
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Answer 1

Answer:

the residual value at the end of 3rd year will be 21600