The balance in the vehicles account in the ledger of Smeg Limited was R1 250000 on 01 January 2023. A vehicle, with a cost price of R375 000 and accumulated depreciation of R300 000, is planned to be sold for R62 500 on 30 June 2023. A new vehicle with a cost price of R625 000 will be purchased to replace it on the same day. The total depreciation on vehicles for 2023 is estimated to be R312500. What will be the carrying value of the vehicles in the pro forma statement of financial position as at 31 December 2023? A. R1 500000 B. R1 550000 C. R1187500 D. R1487500