Calculating Net Capital Spending Morenas Driving Schools 2019 statement of financial position showed non-current assets of 4.2

Question:

Calculating Net Capital Spending Morena’s Driving School’s 2019 statement of financial position showed non-current assets of £4.2 million. One year later, the 2020 statement of financial position showed non-current assets of £4.7 million. The company’s 2020 income statement showed a depreciation expense of

£925,000. What was Morena’s net capital spending for 2020?

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