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A machine bought for N7,000 was estimated to have a useful life of 4 years and a scrap ...

A machine bought for N7,000 was estimated to have a useful life of 4 years and a scrap value of N500. Using the straight line method, what was the amount of depreciation charged per annum?

A. N1,313
B. N1,406
C. N1,625
D. N1,750
E. N1,875




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