On August 1, 20X6, Hanif Haulers Ltd. purchased specialized trucks and loaders to haul

goods between Nunavut and northern Ontario during the winter. The trucks and loaders

cost $225,000 in total. They are expected to have a useful life of five years, after which they

will have a residual value of $42,000. Hanif Haulers received a government grant equal to

30% of the cost of the trucks and loaders. The company uses the net method for reporting

government grants and depreciates all equipment on a straight-line basis.

Hanif Haulers' accounting policy for recording depreciation is to record depreciation

expense in the month of acquisition but not in the month of disposal. The company's fiscal

year end is June 30.

What is the accumulated depreciation balance in Hanif Haulers' accounting records at its

20X8 fiscal year end?