Real Company used a hand tool in the manufacturing activities. On January 1, 2020, there are 800 of such tools on hand at cost of P200 each. Acquisition and retirement during 2020 and 2021 are: Retirement and Estimated value Acquisition and cost retirement proceeds of tools at year end 2020 400 @ P300 300 @ P50 200,000 2021 900 @ P400 700 @ P70 350,000 Retirement may be assumed to be on a first-in, first-out basis. 4. What is the depreciation expense for 2020 using the retirement method? 5. What is the depreciation expense for 2020 using the replacement method