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What the depreciation expense that can be allowed

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Reference no: EM132588525

In January 1, 2019, ABC Corporation purchased vehicle used in the business operations amounting to trade price of P15,000,000 with useful life of 15 years. The trade discount is 10% of trade price. The vehicle will be at no cost after its useful life.

Question 1: What is the depreciation amount?

A. P15,000,000

B. P13,500,000

C. P14,000,000

D. P12,150,000

Question 2: The depreciation expense that can be allowed as deduction from its income in year 2019, assuming ABC Corp is using straight line method is:

A. P1,000,000

B. P900,000

C. P1,350,000

D. P1,500,000

Reference no: EM132588525

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