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What is the depreciation expense for the machine

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Question - Standard Company purchased a machine on January 1, 2009 for P500,000. At the time, it was determined that the machine had an estimated useful life of 10 years and an estimated residual value of P20,000. The company used the double-declining balance method of depreciation. During 2013, the company decided to change its depreciation method to straight line, at which time, the machine's remaining useful life was estimated to be 5 years, including the current year, with a residual value at the end of useful life of P10,000.

Required - What is the depreciation expense for the machine for the year 2013?

Reference no: EM133185946

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