JAMB Principles of Accounts 2013 Question 13

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?

1. A.₦4,000.
2. B.₦7,000.
3. C.₦11,000.
4. D.₦24,000.