A packing machine was purchased for 20,000. The business plans to use it for five years, and
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A packing machine was purchased for £20,000. The business plans to use it for five years, and it is estimated that at the end of that time it will have a disposal value of £5,000. Depreciation is to be calculated by the straight line method.
You are required to calculate the amount of depreciation for each of the five years.
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