Use the information below to answer this questionA machine bought for ₦35,000 was...
Question
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?
Options
A)
₦7,000
B)
₦11,000
C)
₦4,000
D)
₦24,000
The correct answer is C.
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