On the 1st of January 2020, the beginning of the financial year, SPEEDY COURIERS opened its business and the owner Ms C. Speedy purchased four Volkswagen Caddy Vans (vehicles) with a cost price of R500 000 each. The accumulated depreciation on the four Volkswagen Caddy Vans amounted to R800 000 on 1 January 2022. Depreciation on all vehicles are calculated at 20% per annum using the straight-line method. On the 1st of October 2022 one of the Volkswagen Caddy Vans