An asset was bought on 1st January, 1995 for N60,000. Depreciation was provided for annually at 20% on cost. It was sold for N21,000 on 30th October 1998. Depreciation is charged fully in the year of disposal. Accumulated depreciation is
N48,000
N39,000
N36,000
N21,000
Correct answer is A
No explanation has been provided for this answer.