A machine bought for #35,000 was estimated to have a life span of 5 years
FINANCIAL
JAMB 2013
A machine bought for #35,000 was estimated to have a life span of 5 years with a scrap value of #9,000. If the scrap value is presently #15,000 what will be the yearly depreciation using straight line method?
- A. #4,000
- B. #7,000
- C. #11,000
- D. #24,000
Correct Answer: A. #4,000
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