Use the following information to answer the given questio...
Use the following information to answer the given question,
NPurchase price of equipment60,000Freight and installation cost10,000Annual maintenance cost1,000Estimated useful life - 5 yearsEstimated scrap value2000
Using reducing balance method at the rate of 20%. What is the depreciation charge for the second year?
N13,600
N11,200
N10,880
N9,600
Correct answer is B
No explanation has been provided for this answer.
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