A motor vehicle bought for N16,000 was estimated to have a useful life span of 4 years and a scrap of N2,000. What is the net book value of the motor vehicle at the end of the third year, using the straight line method?
A.
N9,000
B.
N5,500
C.
N3,500
D.
N2,000
Correct Answer: Option B
Explanation
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