(Answered) Watson acquired a property on 1 january 2001 for 250000

Accounting

Watson acquired a property on 1 January 2001 for $250,000, being $200,000 for the building and $50,000 for the land. The building was judged to have a useful life of 50 years. On 1 January 2006 the property was independently valued which resulted in an increase of $100,000 to the carrying amount of the building and $50,000 to the carrying amount of the land. The useful life is unchanged. What is the depreciation charge for the year ended 31 December 2006?

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