Question on: JAMB Accounting - 2019
A machine cost ₦12,500 it will be kept for 4 years and then sold at a scrap value of ₦5,120. Using the diminishing balance method, what is the amount of depreciation for second year?
A
₦5,120
B
₦6,400
C
₦8,000
D
₦12,500
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Correct Option: C
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