With solution each letter

Problem 4 (9 Points) The car of DDD Company was acquired on August 15, 2020 for P980,000. At the reporting date, December 31, 2020, the Net Book Value of the car amounts to P919,250. At the end of its estimated useful life, the car can be sold for P170,000. The company uses straight line depreciation. a. Determine the useful life of the car. b. How much is the annual depreciation of the car? C. The depreciation expense for 2020 is