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MPC Ltd purchased a machine on 1 January 2020 , by paying cash of R235 000. The company incurred the installation costs of R15000 and

image text in transcribed MPC Ltd purchased a machine on 1 January 2020 , by paying cash of R235 000. The company incurred the installation costs of R15000 and R10000 of insurance for first year of operation. The machine has an estimated useful life of five years, is expected to produce 500000 units, and has an estimated residual value of R25000. The rate of depreciation is 40%

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