Diminishing Value Method:

On 11 May 2014, Xan bought a new machine for his business. The machine cost him $100,000 and was used 100% for business purposes. According to the relevant Tax Ruling, the effective life of the machine was 5 years.

Required: Calculate the depreciation he can claim for the 2015 financial year if he used the Diminishing Value Method.

dismishing value method = base value * (day held/365 or 366 ) or (month held/12) * 200%/asses's effective life

Please show all calculation steps