On 1 January 2020 a business purchased new delivery vehicles. The following information is available.
The company depreciates delivery vehicles using the reducing balance method at a rate of 40% per annum.
What is the depreciation charge for the delivery vehicles for the year ended 31 December 2021?

1 )
$\$ 72000$
$\$ 72960$
3 )
$\$ 75840$
4 )
$\$ 76800$
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