Q1.16 2.5 Points On 1 June 20X3 Spam plc purchased some plant at a price of 43,000. It cost 1,500 to transport the plant to Spam plc's premises and set it up, plus 900 for a licence to operate it. The plant had a useful life of 8 years and a residual value of 3,500. On 1 June 20x5 the directors of Spam plc decided to change the depreciation method to reducing balance, at 40% per annum. What is the carrying amount of Spam ple's machine in its statement of financial position at 31 May 20X6? O 20,550 O 20,280 O 20,025 20,955