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The initial cost of a piece of construction equipment is P30,000,000 having a useful life of 10 years. The estimated salvage value of the equipment

The initial cost of a piece of construction equipment is P30,000,000 having a useful life of 10 years. The estimated salvage value of the equipment at the end of the useful life is P450,000. Determine accumulated depreciation at the end of 5th year using Sinking fund method, if interest rate is 8.2 % per year?

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