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3. A telephone company purchased a microwave radio equipment for P6,000,000. Freight and installation charges amounted to 3% of the purchase price. If the equipment shall be depreciated over a period of 8 years with a salvage value of 5%, determine: (20 points) a. Annual depreciation charge using the declining balance method a. Depreciation charge during the fifth year using the sum-of-the-years-digit method