A firm purchased a motor vehicle for $25,000 on 1 July 2019. The vehicle had an estimated residual value of $2,000 at the end of its estimated useful life of 4 years. (Assume financial year 1 July 30 June). Calculate the book value/written down value that would be shown on the Balance Sheet at 30 June 2022 assuming the firm uses the straight line method?

		$25,000
		$13,500
		$7,750
		$23,000
		$17,250