Yeung’s financial year finishes on 31 March. On 1 April 2021, he bought a machine for $4000. He judged that its useful working life would be 3 years and that its residual value would be $100. Yeung applies the straight-line method of depreciation. The machine was sold on 1 April 2022 for $1500. What was the loss on disposal?
- A$1100
- B$1200
- C$2400
- D$2500