On 1 January 2015,a New Motor Vehicle with a Useful

Multiple Choice

On 1 January 2015,a new motor vehicle with a useful life of four years and an estimated trade-in value of $12 000 was purchased by a business for $54 000.The straight-line method is employed and the financial year ends on 31 December.
- What was the net book value at 31 December 2017?

A) $12 500
B) $22 500
C) $42 000
D) $43 500