The following information was obtained from the records of Zondi Mining (registered VA vendor) on the last day of the financial year, 31 March 2023: Land and buildings at cost (opening balance) Vehicles at cost (opening balance) Equipment at cost (opening balance) Accumulated depreciation: Vehicles (opening balance) Accumulated depreciation: Equipment (opening balance) R 1 650 000 830 000 380 000 385 000 H! 72 200 Additional information: 1. Vehicles have a residual value of R60 000 and is depreciated over the estimated economi life of 5 years using the straight-line method. 2. Equipment is depreciated at 10% using the reducing balance method. 3. No assets were sold during the financial period. 4. On 1 October 2022, Zondi Mining purchased new drilling equipment for R94 300 (VAT inclusive). The VAT rate is 15%.