On January 1/2005, a machine was bought for N56,000 to last for five years with
FINANCIAL
JAMB 2006
On January 1/2005, a machine was bought for N56,000 to last for five years with a residual value of N1000.
the rate of the yearly depreciation expense would be?
- A. 50%
- B. 40%
- C. 30%
- D. 20%
Correct Answer: D. 20%
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