A motor vehicle was purchased for $25,000, depreciated using the reducing-balance method for 3 years at 20% p.a., and was then sold for a price that was $1,600 more than the carrying amount of the vehicle. The cash received on the sale of the motor vehicle was:

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The Answer of A motor vehicle was purchased for $25,000, depreciated using the reducing-balance method for 3 years at 20% p.a., and was then sold for a price that was $1,600 more than the carrying amount of the vehicle. The cash received on the sale of the motor vehicle was:

A Motor Vehicle Was Purchased for $25,000, Depreciated Using the Reducing-Balance