A machine was acquired on 1st April, 2019 for Rs. 6 lakhs. Rs. 40,000 was spent on the installation of the machine. The scrap value after 5 years is predicted to be Rs. 1,00,000. On 1st October 2019, Rs. 20,000 was spent on repairs. What will be the amount of depreciation under straight line method?
1
Rs. 1,12,000
2
Rs. 1,00,000
3
Rs. 84,000
4
Rs. 1,08,000