Calcuhted recii'mnfnr the rst: earsn ' thediminishiu hahncememd I311 3amp; 5mg E Year Ea]. It beginning affair Rate Yearly depreciation an

A motor vehicle was purchased for $160,000 on 1st January, 2017. It is estimated that it has a useful life of 4 years and will then be sold for $10,000. The financial year ends on 31st December. 

For the diminishing balance method, the firm uses a 50% depreciation rate.