9706/12 Accounting March 2024 Online Test | Cambridge AS & A Level MCQ

At 31 December 2021 a business had a non-current asset with a net book value of $\$ 18000$. It
had been purchased during the year ended 31 December 2020.
Depreciation is charged at a rate of 25% per annum using the reducing balance method. A full
year’s depreciation is charged in the year of purchase.
What was the original cost of the non-current asset?