On acquiring a property, Brevane establishes that its fair value cannot be determined reliably on a continuing basis (exceptional case, documented evidence). It therefore applies the cost model until the property is disposed of. Cost: 4,800,000; useful life: 40 years; straight-line depreciation (case assumption). Calculate the annual depreciation charge.
- Cost of the property
- 4,800,000
- Useful life
- 40