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Question - Bryn Corporation started its operations at the beginning of 2019. An equipment was acquired on May 1, 2019 at a price of P6,000,000. The company incurred import duties and non-refundable taxes amounting to P375,000 and an installation cost of P75,000. Total estimated useful life of the equipment is 5 years and to be depreciated under sum-of-the years' digits. The company estimates total dismantling cost of P150,000 upon the asset's retirement. The prevailing rate of interest on this date was 10%. The present value factor of a single payment at 10% for 5 periods is 0.6209.
Required -
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