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2 A company made a profit of $2 million at the end 2014 which included depreciation of $500,000. At the end of 2013 the assets

2 A company made a profit of $2 million at the end 2014 which included depreciation of $500,000. At the end of 2013 the assets below had the following written down values: Description Annual allowance rate Amount Old New $ 1. Buildings (cost $5 million) 2.5% 20% + 4% 3,260,000 2. Plant & Machinery (cost $200,000) 10% 25% + 12.5% 150,000 3. Furniture & Fixtures (cost $500,000) 10% 25% + 12.5% 300,000 4. Car 1 Private 12.5% 12.5% 2,500 5. Car 2 Private 12.5% 12.5% 1,800 6. Truck 1 12.5% 12.5% 750,000 7. Truck 2 (cost $1 million) 12.5% 12.5% 500,000 8. 3 computers (cost 100,000 each) 25% 25% +20% 150,000 Additional information: Truck 1 which cost

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