solve the following questions. Must state the given, required and solution per question.

1. An engineer bought an equipment for P500,000. He spent an additional amount of P30000 for installation and other expenses. The salvage value is 10% of the first cost. If the book value at the end of 5 years will be P291,500 using the straight line method of depreciation, compute the useful life of the equipment in years.

2. A corporation purchased equipment for P53,000.00 and paid P1,500 for freight and delivery charges to the job site. The equipment has a normal life of 10 years with a trade-in value of P5,000.00 against the purchase of a new equipment at the end of the life. Determine the annual depreciation cost by sinking fund method at 6% interest rate.

3. An equipment was bought for P30,000 six years ago. It will have a salvage value of P3,000 four years from now. It is sold now for P8,000. What is the total depreciation and the book value now? Use Sinking Fund Method at 6%?

4. An equipment cost P7,350 has a life of 8 years and has a salvage value of P350 at the end of 8 years. Determine its book value at the end of 4 years using Constant-Percentage of Declining Value.

5. A machine costs P7000 has a life of 8 years and salvage value of "A" after 8 years, If the book value of the equipment at the 4th year is equal to P2197.22. Compute the salvage value "A" using the sum of the years digit method.