Use the information to answer the question.A piece of equipment costing ₦120,0...

Question

Use the information to answer the 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

C)

₦36 000