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If machine X cost #600,000 with anticipated life span of five years and estimated scrap…

If machine X cost #600,000 with anticipated life span of five years and estimated scrap value of #50,000, using straight line method; depreciation charged for two years will be
  • A.
    #700,000
  • B.
    #240,000
  • C.
    #220,000
  • D.
    #202,000
Correct Answer: Option C
Explanation