Use the information below to answer question An asset was purchase for N343m in 2003. The estimated life of the asset was 3 years with a residual value of N28m. What was the asset value at the beginning of the third year?

Use the information below to answer question

An asset was purchase for N343m in 2003.

The estimated life of the asset was 3 years with a residual value of N28m.

What was the asset value at the beginning of the third year?

The correct answer is D. N28m

No explanation given