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BIG Motors purchased a new vehicle costing P2,200,000 on May 1, 2021. It estimates the useful life of the said vehicle to be 5 years

BIG Motors purchased a new vehicle costing P2,200,000 on May 1, 2021. It estimates the useful life of the said vehicle to be 5 years with a salvage value of P130,000. Identify the required below.

1. Monthly Depreciation is amounted to?

2. Depreciation expense for the year ended December 31, 2022?

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