Question - 22

A firm puchased on 1st january 1998 a machine for Rs. 1,00,000 on 1st July 1999 it purchased another machine for Rs. 62,500 and on 1st July 2000 it sold of the first machine purchased in 1998 for Rs. 28,750 Depreciation was provided on teh machinery @ 10% p.a. on the original cost.