Question 4 Not yet answered Marked out of 14.00 * Flag question WRITE YOUR ANSWERS MANUALLY ON PAPER. ON EACH ANSWER PAGE, WRITE YOUR NAME LEGIBLY, USING DARK PENS. WHEN DONE, PICTURE CAREFULLY, SAVE AS A .PDF FILE, using FAMILY NAME, FIRST NAME, CE6 as the file name. Upload here. PROBLEM 1 A storage tank acquired at the beginning of the fiscal year at a cost of P240,000.00 has an estimated residual value of P30,000.00 and an estimated useful life of 25 years. Determine the following: a. annual depreciation by the straight line method c. straight line rate b. amount of depreciation for the first, second, third, fourth and fifth years computed using the double declining balance method. (Round to two decimal places)