A machine bought for #35,000 was estimated to have a life span of 5 years with a scrap value of #9,000.
If the scrap value is presently #15,000 what will be the yearly depreciation using straight line method?
#4,000
#7,000
#11,000
#24,000
Correct answer is A
35,000 - 15000 = 20000
20000/ 5= 4000