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How much is the depreciation expense

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Question - On January 1, 2022, ABC Organization, a non-profit private organization, received the gift of a building costing to the donor P3,000,000 and the fair value at date of donation was P5,000,000. The building has an estimated remaining useful life of ten years with no salvage value. Under the agreement with the donor, the building cannot be sold by the organization for five years. How much is the depreciation expense for 2022?

Reference no: EM133178328

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