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How much new capital will be required to make the purchase

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Question - An engineering firm purchased 12 years ago a heavy planner for P 50,000. As the life of the planner was 20 years, a straight line depreciation reserve has been provided on that basis. Now the firm wishes to replace the old planner with a newly-designed planner possessing several advantages. It can sell the old planner for P 10,000. The new machine will cost P 70,000. How much new capital will be required to make the purchase?

Reference no: EM133160772

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