Q No.3 Arif Habib Company purchased equipment on August 1,2015 at a list price of Rs.600,000. paid transportation charges Rs.36000 and installation charges Rs.60000. Estimated life is 5 years and estimated salvage value Rs.56000. Following method were decided to use for calculating depreciation: 1. Straight line method 2. Reducing balance method (25%) Prepare schedule of depreciation under each method separately for three years showing cost, depreciation, accumulated depreciation and book value. =