Use the following information to answer the question

Sammy acquired plant an machinery costing ₦120,000 with an estimated useful life of 4 years and residual value of ₦2,000. The sum of the year digits method is used.

The depreciation to be charged for the third year will be

a

₦3,000

b

₦4,000

c

₦1,000

d

₦2,000

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Correct Option
b

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