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A man bought an equipment which cost P524,000.00. Freight and installation expenses cost him P31,000.00. If the life of the equipment is 15 years with

A man bought an equipment which cost P524,000.00. Freight and installation expenses cost him P31,000.00. If the life of the equipment is 15 years with an estimated salvage value of P120,000.00, find its book value after 8 years.

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