A business purchased a car for $68,000 on 1 July 2018. The car was sold on 31 July 2021 for $29,000. The business uses the diminishing value method, and the car was used 100% for business purposes. The closing adjustable value of the car as at 30 June 2021 was $24,243 and its effective life was determined to be eight (8) years. REQUIRED: Calculate any assessable income or deduction for the 2021/2022 year resulting from the sale of the car. You may use the suggested template to show your calculations