Assume you own a company that purchased a new Delivery Van on 1 March 2016, for 18,00,000 Taka. The estimated residual value is zero Taka. The delivery van had an estimated useful life of 12 years and company expects to drive the delivery van for 120,000 miles, throughout its total useful life. The delivery van was driven for 8333 miles in 2016; 10000 miles in 2017, 10500 miles in 2018, 11000 miles in 2019, 8000 miles in 2020.

(b). On 1 January 2019, you are thinking of selling the Delivery Van that was purchased on 1 March 2016 and intend to make a gain from the disposal of the non-current asset . How much the Van must be sold for, if you want to make a gain of 50,000 Taka? (Only show calculation assuming the company follows Straight - Line Method). 5 Marks