Assignment: 1. An asset is purchased for P500,000.00. The salvage value in 25 years is P100,000.00. Using the straight line method, determine (a) the depreciation during the third year, (b) the BV during the last 5 years, and (c) the depreciation rate. 2. The cost of equipment is P500,000 and the cost of installation is P30,000. If the salvage value is 10% of the cost of equipment at the end of 5 years, determine the book value at the end of the third year using straight line method. Actii Go to