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BED purchased a piece of equipment for $175 000 which qualified for a government grant of 12% towards the cost of the asset, useful life

BED purchased a piece of equipment for $175 000 which qualified for a government grant of 12% towards the cost of the asset, useful life of the asset is 10 years.

Under IAS 20, what is the carrying value of the equipment to be shown in the Statement of Financial Position and the depreciation charge after the first year?

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