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Use the information below to answer the question that follows:s .On January 1/200...


Question

Use the information below to answer the question that follows:s .

On January 1/2005, a machine was bought for ₦56,000 to last for five years with a residual value of ₦1000.

The rate of the yearly depreciation expense would be?

Options

A) 50%

B) 40%

C) 30%

D) 20%

The correct answer is D.


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