The plant and equipment account in the records of a company for the year ended 31 December 2012 is shown below: Plant and equipment – cost 2012 $ 2012 $ 1 Jan Balance 960,000 1 July Cash 48,000 30 Sept Transfer disposal account 84,000 31 Dec Balance 924,000 1,008,000 1,008,000 The company’s policy is to charge depreciation on the straight line basis at 20% per year, with proportionate depreciation in the years of purchase and sale. What should be the charge for depreciation in the company’s income statement for the year ended 31 December 2012?