The data below about a business’s motor vehicles is provided. All motor vehicles were bought $10$ years ago for a combined cost of $500000$. Their present total net book value is $100000$. No motor vehicles were sold during the period. How has depreciation been worked out for these motor vehicles?
- A$8\%$ per annum using the reducing balance method
- B$8\%$ per annum using the straight-line method
- C$20\%$ per annum using the reducing balance method
- D$20\%$ per annum using the straight-line method