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Oscar Company purchased a piece of equipment on January 1, 2020 for P3,000,000. The equipment had an estimated useful life of 5 years. The company's
Oscar Company purchased a piece of equipment on January 1, 2020 for P3,000,000. The equipment had an estimated useful life of 5 years. The company's policy is to depreciate the asset using the 200%-declining balance in the first two years of the asset's life and then switch to the straight-line method for the remaining useful life of the asset. What is the total accumulated depreciation as of December 31, 2022
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