Determine the cost price of a farm equipment that has a salvage value of N500,000.00, a useful life of 10 years and an annual depreciation of N400,000.00.
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A.
N500,000.00
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B.
N900,000.00
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C.
N4,500,000.00
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D.
N5,500,000.00
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WAEC 2012