On January 3, 2020, a new machine was acquired for P600,000. The machine has estimated salvage value of P30,000 and estimated useful life of 12 years. The machine is expected to produce a total of 1,000,000 units. The company produced 95,000 units in 2020 and 100,000 units in 2021. 4. Compute for the annual depreciation expense using the straight-line method. 5. (Problem 2) Determine the carrying amount of the asset as of December 31, 2021 using the output method of depreclation