A firm bought a lathe machine for Le 45,600 on 1s January 2015. The life span was estimated to be 20 years while scrap at the end of the period was valued at Le 1,600. It was to be depreciated by the fixed installment method.
The depreciation per annum is
2,360
2,280
2,200
1,600
Correct answer is C
No explanation has been provided for this answer.