A new caustic soda storage tank can be purchased and installed for P500,0oo to Manila. This tank could last for 10 yrs. a second tank of equivalent capacity to the new tank is available from the plant and it has been proposed to repair it instead of buying a new tank. If the tank was repaired, it would have a useful life of 5 yrs. before that type of repair would be needed again. Neither tank has scrap value; money is worth 14% compounded annually. On the basis of equal capitalized cost of the two tanks, how much can be spent for repairing the secondhand tank? The original investment for an asset was $10,000 and the asset was assumed to have a service life of 12 yrs. with $2000 salvage value at the end of the service. After the asset has been in use for 5yrs, the remaining service life and final salvage are re - estimated at 10yr