What will be the asset’s net carrying amount by the end of its second year?

MHJ purchased an asset for £53,500, which incurred a delivery charge of £20,000. MHJ decided to set a depreciation rate of 15% per annum for the asset.

In its second year, the asset is re-valued at 180% of the net carrying value of the previous year.

What will be the asset’s net carrying amount by the end of its second year?
A . £7 72,455.00
B . £95,586.75
C . £53,101.20
D . £81,248.74

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Answer: B