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Warren purchased a new harvester for his farm on 1 July 2016 for $180 000....

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Accounting

Warren purchased a new harvester for his farm on 1 July 2016 for $180 000. He uses the tractor entirely for business purposes and it has an effective life of 12 years. He is choosing to use the diminishing value method of depreciation. What amount should Warren claim as an allowable deduction (to the nearest $1) under Division 40 for the year ended 30 June 2018? 1) $19 687 2) $25 000 3) Nil 4) $30,000 5) $15 000

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