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
Explanation
Correct Option
bNo explanation available
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