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WAEC Agricultural Science 2026 Question 47

Question 47

Farm Management and Records

Determine the cost price of a farm equipment that has a salvage value of N800,000.00, a useful life of 10 years and an annual depreciation of N300,000.00.

  1. A.N1,100,000.00
  2. B.N2,200,000.00
  3. C.N3,800,000.00
  4. D.N5,000,000.00
Show the answer and explanation

Answer: C (N3,800,000.00)

Explanation

Cost = (300,000 × 10) + 800,000 = N3,800,000.