Answer the following, Show your solution and box the final answer with Pesos sign symbol.

An equipment cost Php 480,000 has a salvage value of 10 91': of its cost at the end of its life of 35,000 operating hours in period of 5 vears. In the first vea'r of service, it was used for 12,000 hours. If at the end of the 2"\" vear it was used for 15,000 hours, find the depreciation at the end of the I!"d vea r