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A Php 110,000 chemical plant had an estimated life of 6 years and a projected scrap value of Php10,000. After 3 years of operation an

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A Php 110,000 chemical plant had an estimated life of 6 years and a projected scrap value of Php10,000. After 3 years of operation an explosion made it a total loss. How much money would have to be raised to put up a new plant costing Php150,000, if the depreciation reserve was maintained during its 3 years operation by: a. Straight-Line Method b. Sinking Fund Method at 68

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