A company owns two non-current assets. Their details are listed below: Asset X: purchased on 1 Jan 2018, cost $10000, straight-line depreciation, useful life 5 years, residual value $2000. Asset Y: purchased on 1 Jan 2018, cost $20000, reducing balance depreciation, rate 20%, residual value nil. What was the combined depreciation expense shown in the income statement for the year ended 31 December 2019?
- A$4800
- B$5200
- C$5600
- D$6000