SA Traders is a registered VAT vendor. The following information was recorded in the accounting records of SA Traders as at 28 February 2022 (the financial year-end):



R

Office furniture at cost

228 500

Vehicles at cost

575 000

Accumulated depreciation: Office furniture (1 March 2021)

89 650

Accumulated depreciation: Vehicles (1 March 2021)

230 950



The office furniture is depreciated at 30% per annum, using the straight-line method. Vehicles are depreciated at 20% per annum, using the reducing balance method.

What will be the carrying value of the vehicles as at 28 February 2022?