Question 18 (1 point) A car was purchased by a tile retailer in May 20W9 for 30,300 (including road tax for the year to 200 of 300 ). The business has a 31 December year end. The car was traded in on the 1 st August 202 for 15,000. The entity's accounting policy in respect of the depreciation of cars is to apply a 25% reducing balance method, with a full year's depreciation being charged in the year of purchase and none in the year of sale. Given this information, what was the profit/loss on the trade-in during the year ended 31st December 202 ? Profit of 2,154 Profit of 2,344 Profit of 5,364 Profit of 5,508