A machine cost ₦12,500 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 the second year?

By: |Published on: Jan 10|Categories: Accounting WAEC| 0 comments

A. ₦5,120
B. ₦6,400
C. ₦8,000
D. ₦12,500

Correct Answer: Option C

C. ₦8,000

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