On 1 January 2020, a business acquired new delivery vehicles. The information provided is as follows. • total purchase cost: $300\,000$ • cost of painting the delivery vehicles in the company’s colours: $4\,000$ • total annual maintenance cost: $16\,000$ The company uses the reducing balance method to depreciate delivery vehicles at a rate of $40\%$ per annum. What is the depreciation charge for the delivery vehicles for the year ended 31 December 2021?
- A$72\,000$
- B$72\,960$
- C$75\,840$
- D$76\,800$