The plant and machinery at cost account of a business for the year ended 30 June 20X4 was as follows：

PLANT AND MACHINERY - COST

20X3                                                                   $                                           20X31                                      $

1 Jul 20X4              Balance                             240,000        30 Sep Transfer disposal account 20X4        60,000

1 Jan              Cash - purchase of plant           160,000                                                                               340,00

                                                                          400,000        30 Jun Balance                                             400 ,000

The company's policy is to charge depreciation at 20% per year on the reducing balance basis, with proportionate depreciation in the years of purchase and disposal What should be the depreciation charge for the year ended 30 June 20X4?