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Use the information to answer question .A piece of equipment costing ₦120,000 ...


Question

Use the information to answer question .

A piece of equipment costing ₦120,000 was purchased on 1/1/1996. Depreciation was provided at 20% per annum on a straight-line basis. it was sold on 30/6/1999 for ₦31,500.

The net book value of the piece of equipment at the time of sale was?

Options

A) ₦96 000

B) ₦48 000

C) ₦36 000

D) ₦24 000

The correct answer is C.


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