Wally’s business owns several machines that he depreciates on the reducing balance basis at the rate of 10% per annum. His balance sheet at 31 March 20X8 shows the following balances in respect of machines:

f£

Fixed assets Tangible fixed assets Machines at cost 288 994 Less: accumulated depreciation (107 773)

Net book value 181 221 On 17 October 20X8 he buys a new machine for £14 800. There were no other additions or disposals of machines in the year. Wally’s policy is to charge a full year's depreciation in the year of purchase of a new fixed asset, and none in the year of disposal. What is the charge for depreciation on machines (to the nearest £) to be included in Wally’s profit and loss account for the year ending 31 March 20X9?

a) £28 899 by Gre 13122 Ci £57739

a) 3191602: