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What was the first cost of the equipment

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A surveillance equipment bought by FabLab Mindanao 2 years ago has been book- depreciated by the straight-line method using a 5- year useful life. If the book value at the end of year 2 is P240,000 and the company assumed that the equipment would be worthless at the end of its 5-year useful life.

Problem 1: What is the book depreciation charge each year?

Problem 2: What was the first cost of the equipment?

Reference no: EM132816158

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