Question on: WAEC Accounting - 1994

A machine bought for N7,000 was estimated to have a useful life of 4 years and a scrap value of N500, Using the reducing balance method, what is the amount of depreciation for the second year?

A
N1,313
B
N1,4066
C
N1,625
D
N1,750
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Correct Option: A

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