EXE Company purchased an equipment on June 1, 2001 for P15,000. The equipment is expected to have a salvage value of P4,000 at the end of its 4-year useful life. The machine is expected to be used for 6,000 hours during its useful life. Given in the table below, make a schedule of depreciation on the basis of following methods; a. Straight Line Method b. Declining method Years 2001 2002 2003 2004 Hours Used 1300 500 1500 900