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| Jones bought a tractor on 1 January 20X6 for $85,000 and decided to depreciate it at 30% per annum on a reducing balance basis. It was disposed of during the year ended 31 December 20X8 for $35,000. Jones does not charge depreciation in the year of disposal. What is the net effect on the income statement for the year ended 31 December 20X8? A Increase of $6,650 B Decease of $6,650 C Increase of $24,500 D Decrease of $24,500 |