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. Using the straight method. The depreciation of the asset in the first year was?

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.

Using the straight method. The depreciation of the asset in the first year was?

The correct answer is C. N105m

No explanation given