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What the machinery cost of acquisition was

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Reference no: EM132992216

Problem 1: Saturday Corporation acquired machinery on Jan. 3, 2019. The machinery is expected to have an 8-year useful life and a P60,000 salvage value. The depreciation applicable to this machinery for 2021 was P130,000, calculated using the sum-of-the-years'-digits approach. The machinery's cost of acquisition was?

a) P720,000

b) P780,000

c) P840,000

d) P936,000

Reference no: EM132992216

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