PRTC Company's property, plant, and equipment, accumulated depreciation, and amortization balances at December 31, 2011 are: Accumulated Cost depreciation Land P 275,000 Buildings 2,800,000 P 672,900 Machinery and equipment 1,380,000 367,500 Automobile and trucks 210,000 114,326 Leasehold improvements 432 000 108 000 Totals P5 097 000 P1 262 726 Additional information on depreciation, amortization methods, and useful lives follows: Depreciation Asset method Useful life Buildings 150%declining 25 years. balance Machinery and equipment straightline 10 years Automobile and trucks 150%declining 5 years [all acquired after 2009) balance Leasehold improvements straightline Depreciation is computed to the nearest month. Salvage values of depreciable assets are immaterial except for automobiles and trucks which have estimated salvage values equal to 15% of cost