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someone please help with this question! deadline is tommorrow! 9.2 Jimmy Horne commenced a car rental business on 1 January 20x2.Jimmy purchased a vehicle for

someone please help with this question! deadline is tommorrow!
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9.2 Jimmy Horne commenced a car rental business on 1 January 20x2.Jimmy purchased a vehicle for $40 000 on 1 January 20X2. He bought another vehicle costing $60 000 on 30 September 20x2. On 1 May 20x3 he sold the vehicle for $29 500 which was bought on 1 January 20x2. Jimmy is in the process of preparing his income statement for the year ending 31 December 20X2 and is not sure that which method of depreciation should be used out of straight line or reducing balance method. Jimmy is considering using the straight line method by charging depreciation @15% on original cost for the period asset is being used by the business. Another suggestion given by a friend of Jimmy, who is in the same line of business, to depreciate vehicles @ 25% by using reducing balance method for the full year on all the vehicles held by the business at the year-end irrespective of their dates of purchase. REQUIRED Calculate the total depreciation for each vehicle for the two years ending 31 December 20x2 and 31 December 20X3 under each of the two methods

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