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Salam Air purchased aeroplane for OMR 400,000, on July 1, 2010. The company expects the service life of the airplane to be 5 years. During
Salam Air purchased aeroplane for OMR 400,000, on July 1, 2010. The company expects the service life of the airplane to be 5 years. During that time, it is expected that the aeroplanes useful life will be 200,000 hours. The anticipated salvage value is OMR 30,000. The aeroplane is disposed of after five years of use. Calculate the book value of aeroplane as on 31-12-2012? Use declining-balance depreciation method of charging depreciation at 40%:
a.
OMR 80,000
b.
OMR 192,000
c.
OMR 208,000
d.
OMR 115,200
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