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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, what is the net book value at the second year?
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  • A N512
  • B N525
  • C N640
  • D N700
  • E N800
Correct Answer: Option C
Explanation:

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