WAEC Financial Accounting 2014 Question 12

Use the following information to answer questions 11 and 12.
Cost of motor vehicle – 1/1/12: ₦85,000
Residual value: ₦5,000
Estimated useful lifespan 10 years
The business makes use of the straight line method for providing depreciation.
The accumulated depreciation as at 31/12/2013 is

1. A.₦18,500.
2. B.₦17,000.
3. C.₦16,000.
4. D.₦8,000.