A plant asset cost P96,000 and is estimated to have a P12,000 salvage value at the end of its 8-year useful life. The annual depreciation expense recorded for the third year using the double-declining-balance method would be O P13,500. O P8,040. O P11,812. P9.190. Question 48 2 On January 1, 2021, Mighty Company purchased a new machine for P2,100,000. The new machine has an estimated useful life of nine years and the residual value was estimated to be P75,000. Depreciation was computed on the sum-of-the-years'-digits method. What amount should be shown in Mighty's statement of financial position at December 31, 2022, net of accumulated depreciation, for this machine? O P1,335,000 P1,695,000 P1,244,250 P1,306,666