ABS Broadcasters Ltd Owns a Standard Patent That Cost $1

ABS Broadcasters Ltd owns a standard patent that cost $1 million that was acquired in 2013 and also a datacasting transmitter licence that cost $60 million and that was acquitted in 2007. What decline in value can ABS Broadcasters Ltd claim for these two items of intangible property for the year ended 30 June 2020?

A) $4,066,667
B) $4,050,000
C) $3,050,000
D) $3,000,000

Correct Answer:

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