Sammy acquired plant an machinery costing ₦120,000 with an estimated useful life of 4 years and residual value of ₦2,000. The sum of the year digits method is used.
The depreciation to be charged for the third year will be
₦3,000
₦4,000
₦1,000
₦2,000
Correct answer is B
No explanation has been provided for this answer.