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What total amount should be charged against income

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Question - An intangible asset costs P300,000 on January 1, 2014. On January 1, 2015, the asset was evaluated to determine if it was impaired. As of January 1, 2015, the asset was expected to generate future cash flows of P25,000 per year (at the end of each year). The appropriate discount rate is 5%.

Required - What total amount should be charged against income in 2015, assuming that the asset had a total useful life of 10 years from date of acquisition?

Reference no: EM132882505

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