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What is the book value of the building on december

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Problem 1: On January 1, 2014, SELF Inc. purchased a building for P33,000,000 with salvage value of P3,000,000 and useful life of 20 years. SELF Inc. depreciates its building using straight-line method. On January 1, 2016, SELF reviewed the depreciation of the building and changed from straight-line to Sum of the years unit method. It also determined that the useful life of the building should only be 12 years from the date of acquisition with no residual value. What is the book value of the building on December 31, 2016?

Reference no: EM132834027

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