Use the following information to answer the question
Sammy acquired plant an machinery costing ₦120,000 with an estimated useful life of 4 years and residual value of ₦2,000. The sum of the year digits method is used.
The depreciation to be charged for the third year will be
- ₦3,000
-
₦4,000
- ₦1,000
- ₦2,000