1.6 Tim purchased some new computer equipment at the beginning of 2013 with a cost of R40 000. The equipment has a residual value of R5 000, and Tim has elected to use the declining balance (reducing balance) method for calculating the depreciation on the equipment. The depreciation rate is 10% per year. Furthermore, at the beginning of 2015 he purchased security equipment with a cost of R80 000, a residual value of R10 000 and a useful life of 14 years. What will the total carrying value of this equipment (computer and security) be at the end of 2016? (Max. 8 lines) (7 marks) Start writing here