Grey Egret Ltd purchased an item of equipment at a total cost of $85 000 nine months ago on 1 October. The equipment was expected to have residual value of $20 000 at the end of its five-year useful life to the firm. The company's financial year ends on 30 June.

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The Answer of Grey Egret Ltd purchased an item of equipment at a total cost of $85 000 nine months ago on 1 October. The equipment was expected to have residual value of $20 000 at the end of its five-year useful life to the firm. The company's financial year ends on 30 June.

Grey Egret Ltd Purchased an Item of Equipment at a Total