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Stephanie bought a new car for $90,000 on 1 July 2020 and started using it from that day. She uses the car 75% for work
Stephanie bought a new car for $90,000 on 1 July 2020 and started using it from that day. She uses the car 75% for work purposes in her job as a real estate salesperson. The effective life of the car is 8 years. Using the diminishing value method, what is the amount of the decline in value of Stephanie's car in the 2020/21 income year?
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