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Dolly Dairy Corporation purchased a Bulk Milk Cooler for P480 000.00. Shipping, tax and installation costs amounted to P25 000.00, P20 000.00, and P15 000.00,

Dolly Dairy Corporation purchased a Bulk Milk Cooler for P480 000.00. Shipping, tax and installation costs amounted to P25 000.00, P20 000.00, and P15 000.00, respectively. If the estimated salvage value is P40 000.00 after seven years, determine the book value after four years and the depreciation charge on its last year of service by preparing an SYD depreciation table. (Ans. P147 142.86; P17 857.14) NOTE: Please show formula as well.

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