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A plant which costs N1,000 and has a residual value of N125 is depreciated at 20% per ...

A plant which costs N1,000 and has a residual value of N125 is depreciated at 20% per annum. Using the diminishing balance method, what is the amount of depreciation for the second year?
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  • A N128
  • B N140
  • C N160
  • D N175
  • E N200
Correct Answer: Option C
Explanation:

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