The net book value of the asset at 31/12/19 is?

Use the following information to answer this question.

Cost of assets (01/01/18) ₦ 600,000. Annual depreciation charge is 15% on reducing balance basis.

A. ₦523,500
B. ₦510,000
C. ₦433,500
D. ₦420,000

Correct Answer:

Option C = ₦433,500