Assume that Spartan Limited acquired an aircraft with a total cost of R7 800 000,...
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Assume that Spartan Limited acquired an aircraft with a total cost of R7 800 000, inclusive of R1 400 000 in respect of the lining on 1 August 2014. It was available for use as intended by management immediately and the aircraft had a useful life of 15 years, with a residual value of R400 000. The lining must be replaced every three years. The lining has been identified as a separate component at initial recognition. Calculate the total depreciation expense on the aircraft (including the lining) for the year ended 31 December 2016. a. R866 667 b. R960 000 c. R893 334 d. R520 000
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