Use the following information to answer the given question,
\(\begin{array}{c|c} & N\\ \hline \text{Purchase price of equipment} & 60,000\\ \text{Freight and installation cost} & 10,000 \\ \text{Annual maintenance cost} & 1,000\\ \text{Estimated useful life – 5 years} & \\ \text{Estimated scrap value} & 2000 \end{array}\)
What is the annual depreciation charge of straight line method is used?
- N14,000
-
N13,000
- N12,000
- N10,000