What is the amount of depreciation and immediate deduction

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Question - On 1 April 2018, Bill acquired some new office equipment - a desk for $400, two chairs for $280 each and a small filing cabinet for $100 from Hamilton Furniture Ltd. The depreciation rates for the various items of office equipment are: Desk 8.5% Straight Line; Chairs 10.5% Straight Line and Filing cabinet 8.5% Straight Line. What is the amount of depreciation and immediate deduction (if any) which Bill can claim as deduction for the 2019 income year?

a. Immediate deduction of $400 and depreciation of $69.30

b. Immediate deduction of $500 and depreciation of $58.80

c. Immediate deduction of $100 and depreciation of $57.80

d. No immediate deduction but can claim depreciation of $90.10

Reference no: EM132661165

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