The plant and machinery at cost account of a business for the year ended 30 June 20X4 was as follows: PLANT AND MACHINERY - COST $ 240,000 160,000 400,000 20X3 1 Jul Balance 20X4 1 Jan Cash-purchase of plant 20X3 30 Sep Transfer disposal account 20X4 30 Jun Balance $ 60,000 340,000 400,000 The company's policy is to charge depreciation at 20% per year on the straight line basis, with proportionate depreciation in the years of purchase and disposal. What should be the depreciation charge for the year ended 30 June 20X4?