Question on: JAMB Accounting - 2013

A machine bought for #35,000 was estimated to have a life span of 5 years with a scrap value of #9,000.

If the scrap value is presently #15,000 what will be the yearly depreciation using straight line method?

A
#4,000
B
#7,000
C
#11,000
D
#24,000
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Correct Option: A

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