Masande Limited financial year ends on 30^th June 2022. On 1^st August 2021, the company acquired a new plant costing R920 000 (Vat inclusive). It incurred delivery cost of R60 000 (excluding vat). The residual value of the plant was estimated to be R32 000. The plant was available for use on 1 September 2021 but was actually brought into use on 1 October 2021. Depreciation is charged on the plant on a straight-line basis. You are required to state the date we will start calculating depreciation:

You are required to calculate the depreciable amount of the plant (2 marks)

Select one:

a. R768 000

b. None of the above is correct

c. R948 000

d. R888 000