2. On January 2, 2004, Leah Company purchased a large quantity of personal computers. The cost of these computers was P5,000,000. On the date of purchase, the management estimated that the computers would last approximately 5 years and would have a salvage value at that time of P500,000. The company used the double-declining balance method of depreciation. During 2005, the management realized that technological advancements had made the computers virtually obsolete and that they would have to be replaced. Managenent now believes that the useful life of the computers should have been 3 years from the date of acquisition and decided to depreciate the computers using the new estimate. What is the depreciation to be recognized for the year 2005? A. 3,000,000 C. 1,250,000 B. 2,500,000 D. 1,500,000 CPAR 1004