Short question 2 Grenoble plc purchased a new machine costing 220 million on 1 December 2020. The machine has an estimated useful life of five years and an estimated residual value of 20 million. On 1 December 2021, the estimated useful life was reduced to three years, and the estimated residual value was reduced to 12 million. Required: You are required to calculate the depreciation charge for 2020/21 and 2021/22 and show the net book value at each year end.