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Determination of effective life and the prime cost method

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Question: Naresh is a chef. He purchased a mobile phone on 1 July for $6,000. He estimates that he uses the mobile phone for his own purposes 20% of the time. The Commissioner has assessed the effective life of mobile phones as three years. Naresh uses the Commissioner's determination of effective life and the prime cost method to calculate all depreciation deductions. Assume that it is not a leap year

Reference no: EM133554114

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