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 value of the asset at the end of the first year is
₦5,000
₦8,000
₦2,000
₦3,000
Correct answer is B
No explanation has been provided for this answer.