A music label acquired the exploitation rights to a catalogue of recordings for 960,000, amortised on a straight-line basis over 8 years with no residual value. After 3 years of amortisation, the catalogue's lasting success in digital streaming leads to an increase of its total useful life, since acquisition, to 11 years. What is the annual charge for the following years?
- Cost of the rights
- 960,000
- Initial total useful life
- 8
- Years already amortised
- 3
- Revised total useful life
- 11