Use the information below to answer this question A machine bought for ₦35,000 was estimated
FINANCIAL
JAMB 2020
Use the information below to answer this question
A machine bought for ₦35,000 was estimated to have a life span of 5 years with a scrap value of ₦9000.
If the scrap value is presently ₦15,000 what will be the yearly depreciation using straight-line method?
- A. ₦7,000
- B. ₦11,000
- C. ₦4,000
- D. ₦24,000
Correct Answer: C. ₦4,000
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