Question 2: A property costing $750,000 was purchased on 1 January 204 and is being depreciated over its useful life of 10 years. It has no residual value. At 31 December 204, the property was valued at $810,000. There was no change to its useful life. On 31 December 206, the property was sold for $900,000. Required: Calculate the profit/(loss) on disposal of the asset on 31 December 206