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What amount should the equipment be reported on december

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Problem 1: Kline Company has an equipment with carrying amount of P3,200,000 on December 31, 2019 after recording depreciation for 2019. The following information is available on December 31, 2019 relative to the equipment: Fair value of similar equipment in an active market 2,800,000; Present value of future cash flows 2,600,000 ; Estimated undiscounted future cash flows 2,700,000. At what amount should the equipment be reported on December 31, 2019?

Reference no: EM132674947

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