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A certain equipment which cost P500,000 when brand new has a salvage value of X pesos and is expected to last for 23,000 hours in

A certain equipment which cost P500,000 when brand new has a salvage value of X pesos and is expected to last for 23,000 hours in a period of 5 years. In the first year of service it was used for 7000 hours. If the book value of the equipment is 360,000 at the end of the first year, what is the value of X?

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