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Godsgood Ltd acquired equipment under a finance lease. The value of the equipment isGHS 5 0 0 , 0 0 0 . The amount is

Godsgood Ltd acquired equipment under a finance lease. The value of the equipment isGHS500,000. The amount is broken into principal repayment of GHS400,000 and interest cost ofGHS100,000. The repayment period is five (5) years; Principal (per annum)- GHS80,000; interest cost (per annum)- GHS20,000. The commencement period is January 2021.You are required to:Calculate the capital llowance for 2022 and 2023 years of assessment.

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