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An asset was bought exactly 5 years ago for P 8 , 0 0 0 , 0 0 0 , and was depreciated using Straight

An asset was bought exactly

5

years ago for P

8, 000, 000,

and was depreciated using Straight Line

Depreciation for its projected

10

year lifetime. If it has a book value of

5, 500, 000

today, what

was the presumed salvage value applied if it is to be sold in

5

years time? SHOW SOLUTION

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