WAEC Financial Accounting 2003 Question 39

A fixed asset was bought for N60,000 on 1st January, 1997. Depreciation was provided at 10% on cost. It was sold for N16,000 on 30th June, 2001.
The net book value at the time of sale was

1. A.N33,000
2. B.N30,000
3. C.N17,000
4. D.N16,000