ABC Company has an equipment that has a book value of Php300,000 as of January 1, 2020. The remaining life of the equipment is 5 years and is depreciated using straight line method. On August 1, 2020, the entity decided to change its useful life of 6 years as of January 1, 2020. In its 3rd quarter income statement, how much is the depreciation expense? Select the correct response: 7,500 15,000 12,500 37,500 None of the choices