ADCO Ltd purchased a plant at a cost R897 000 (VAT inclusive) on 1^st May 2021. The residual value of the plant is estimated to be R90 000 (excluding vat). Depreciated on the plant is calculated at 20% per annum. ADCO Ltd financial year end is 28^Th February. The company is registered for VAT.

Calculate the carrying amount of the plant for the financial year ended 2023 (Assume a diminishing balance method of depreciation-20%).

Select one:

a. R520 000

b. R499 200

c. R574 080

d. R598 000