Calculate the rate of depreciation and depreciation using the straight-line method. ---------------------------------------------------------------------------------------------------------(20)

Mr. ABC purchased truck on January1, 2020 for Rs=26,000, Expected residual value, Rs= 2,000, Estimated useful life= 5 years.

Mr. XYZ purchased a plane January1, 2020 for Rs1,000,000, Expected residual value, Rs= 50,000, Estimated useful life= 5 years.

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