A factory has decided to purchase some new equipment for P650, 000. The equipment will be kept for 10 years before being sold. The estimated salvage value for depreciation purposes is to be P45, 000. Using declining balance method, what is the depreciation on the 5th year? what is the answer: P 45, 000 P 50, 000 P 52, 553 P 40, 446

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