A business depreciates its machinery at 10% per annum using the straight-line method on a month-by-month basis. The business’s financial year end is 30 June.
Machinery which had cost $\$ 6600$ on 1 April 2020 was sold on 30 November 2021. The profit on sale was $\$ 350$.
What were the sale proceeds?
1 )
$\$ 5150$
2 )
$\$ 5425$
$\$ 5850$
4 )
$\$ 6125$
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