1. Examine the opening fixed assets summary shown below.

	Cost	Depreciation	NBV
Freehold land	180000	0	180000
Buildings	250000	60000	190000
Plant and machinery	175000	40000	135000
Motor vehicles	84000	20000	64000
Office furniture and fittings	60000	20000	40000
Totals:	749000	140000	609000

Fixed asset are to be depreciated annually using the following rates and methods:

• Buildings 4% straight line
• Plant and machinery 20% straight line
• Motor vehicles 25% reducing balance
• Office furniture and fittings 10% straight line

Assuming no additions or disposals during the accounting period, which ONE of the following shows the closing fixed assets NBV (i.e. NBV after the charge for depreciation)?

1. 554400
2. 542000
3. 537000
4. 549400