The cost of a machine is ₦10,000. The residual value is ₦4,000. It is expected to last for 4 years. Using the straight line method, what is the amount of depreciation charged per annum?
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Correct Answer: Option C
Explanation:
The formula to be adopted is :cost - estimated value
years of useful life
10,000 - 4000 = 1500
     4
The formula to be adopted is :cost - estimated value
years of useful life
10,000 - 4000 = 1500
     4