The extract below is taken from the statement of financial position of a company at 31 December 2016. Non-current assets: cost $250000, accumulated depreciation $95000, net book value $155000. These assets have a residual scrap value of $12500. The company’s policy is to calculate depreciation using the reducing balance method at a rate of $25\% per annum. Calculate the depreciation charge for the year ended 31 December 2017?
- A$35625
- B$38750
- C$59375
- D$62500