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MINING Ltd acquired a plant on 1 January 2021 at a cost of N$1,000,000. The plant is depreciated straight-line to a nil residual value. MINING
MINING Ltd acquired a plant on 1 January 2021 at a cost of N$1,000,000. The plant is depreciated straight-line to a nil residual value. MINING Ltd estimates that it will incur a cost of N$750,000 in 4 years time to dismantle the plant. Assume a discount rate of 10% applies. The year end is 31 October 2021 What is the closing balance on the provision for 2021? O A N$550,680 OB. N$554.948 o C NS563 486
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