Use the information to answer question .
A piece of equipment costing N120,000 was purchased on 1/1/1996. Depreciation was provided at 20% per annum on a straight-line basis. it was sold on 30/6/1999 for N31,500.
The net book value of the piece of equipment at the time of sale was?
A.
N96 000
B.
N48 000
C.
N36 000
D.
N24 000
Correct Answer: Option C
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