1/ On 11 May 2014, Xan bought a new machine for his business. The machine cost him $100,000 and was used 100% for business purposes. According to the relevant Tax Ruling, the effective life of the machine was 5 years.

Required: Calculate the depreciation he can claim for the 2015 financial year if he used the Prime Cost Method.

prime cost method = assest's method x ( day held/365 or 366 ) or ( month held/ 12) x 100%/ asses't effective life

the answer is 22,794.54 but i tried calculate many times , but still cannot get the same answer. Thanks for your helping