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Calculate the total depreciation expense on the aircraft

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    Assignment ID: FG133134598

    Question – 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.

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