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QUESTION 121 an Entity A purchased an asset on 1st January 2016 for Rs. 1,00,000 and the asset had estimated useful life of 10 years and a residual value of nil. On 1st January 2020, the directors review the estimated life and decide that the asset will probably be useful for a further 4 years. Calculate the amount of depreciation for each year, if company charges depreciation on Straight Line basis