Question: (1) Astronaut & Co. A purchases a second-hand car with details as follows: (a) Purchase costs HKD80,000 (b) Estimated useful life is 4 years (c)

(1) Astronaut & Co. "A" purchases a second-hand car with details as follows: (a) Purchase costs HKD80,000 (b) Estimated useful life is 4 years (c) Expected disposal value at the end of useful life is HKD5,000. Calculate: (A) Annual Depreciation amount under Straight-line Depreciation Method; (B) Work out the Depreciation rate for Reducing Balance Method; (C) Work out the Depreciation amount for the 4 years under: (i) Straight-line Depreciation Method (ii) Reducing Balance Method

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