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A company has purchased a bus for its officers for P 14,000,000. The expected life of the bus is 10 years. The salvage value of

A company has purchased a bus for its officers for P 14,000,000. The expected life of the bus is 10 years. The salvage value of the bus at the end of its life is P 2.2M. Using the sinking fund method of depreciation, find the book value at the end of the 5th year. Use i = 10.1%

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