The Nickle Company purchased an asset for P17,000 on January 2, 2021. The asset has an expected residual value P1,000. The depreciation expense for 2021 and 2022 is shown next for three alternative depreciation methods:

Year Method A Method B Method C

2021 P4,000 P6,400 P6,375

2022 4,000 4,800 3,984

Required

1. Which depreciation method is the company using in each example?

2. Compute the depreciation expense for 2023 and 2024 under each method