On 31 December 2018 a new motor vehicle with a life of five years and no estimated residual value was purchased by a business at a cost of $48 000, net of GST. The diminishing-balance depreciation method is used at a rate of 20% pa. What is the carrying value of the motor vehicle at 31 December 2020 after charging depreciation for that year? Select one O a. 57 680 b. 59 600 Oc530 720 O d. 538 400