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WASSCE
use the information below to answer questions 34 to 36
A motor vehicle bought for #16,000 was estimated to have a useful life span of 4 years and a scrap value of #2,000.
What is the net book value of the motor vehicle at the end of the third year, using the straight line method?
A motor vehicle bought for #16,000 was estimated to have a useful life span of 4 years and a scrap value of #2,000.
What is the net book value of the motor vehicle at the end of the third year, using the straight line method?
A.
#9,000
B.
#5,500
C.
#3,500
D.
#2,000
Answer: B
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