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Pasado Co. purchased equipment on January 1, 20x4 for P5,000,000. The 1 point equipment had a useful life of 5 years and residual value of

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Pasado Co. purchased equipment on January 1, 20x4 for P5,000,000. The 1 point equipment had a useful life of 5 years and residual value of P600,000. The policy is to depreciate 5-year assets using 200% double declining method for the first two years and then switch to straight line. What amount should be reported as accumulated depreciation on December 31, 20x6? 2000

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