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A counting money machine was brought by a convenience store for a price of P 112,000 and is to have a 15 years life with
A counting money machine was brought by a convenience store for a price of P 112,000 and is to have a 15 years life with a salvage value at the end of life of P7,000. If the amount of installing he said machine cost P 4,500, determine the book value at the end of 15 years by the following methods
(a) Declining balance method
(b) Sinking fund method at 12%
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