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Calculate the Amount of annual Depreciat...

Calculate the Amount of annual Depreciation and Rate of Depreciation under Straight Line Method (SLM) from the following:
Purchased a second-hand machine for Rs 96,000, spent Rs 24,000 on its cartage, repairs and installation, estimated useful life or machine 4 years. Estimated residual value Rs 72,000.

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The correct Answer is:
[Annual Depreciation = Rs 12,000; Rate of Depreciation = 10%.]
[Annual Depreciation = Rs 12,000, Rate of Depreciation = 10%.]
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