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Okafor Limited purchased equipment costing $20 000 on 1 April 2022. Depreciation is charged at 30% per annum by the reducing balance method. The company prepares its financial statements to 31 March each year.
What was the net book value of the equipment at 31 March 2025?
[1 mark]
🧭Modelled on Cambridge 0452 · Oct/Nov 2025 · Paper 13 · Q16