The business purchased new factory machinery for $120\,000$. This figure was entered under non-current assets, and depreciation of $10\%$ of cost was charged in the draft statement of profit or loss for the period. Moreover, the business paid $14\,000$ to install the machinery and $6000$ to insure it. These amounts were treated as revenue expenditure for the period. The draft statement of profit or loss for the period reported a profit of $50\,000$. What is the revised profit for the period?
- A$48\,600$
- B$50\,000$
- C$62\,600$
- D$68\,000$