A machine bought for #35,000 was estimated to have a life span of 5 years with a scrap value of #9,000.
If the scrap value is presently #15,000 what will be the yearly depreciation using straight line method?
-
#4,000
- #7,000
- #11,000
- #24,000
The correct answer is: A
Explanation
35,000 - 15000 = 20000
20000/ 5= 4000