An asset has it original value of 120, 000 pesos has a salvage value of 3% of its original value in 12 years. What is the asset’s value after 8 years of use? Use straight line depreciation method.
The asset’s value after 8 years of use is:
SV=120,000−120,000×0.97×812=42,400.SV = 120,000 - \frac{120,000×0.97×8}{12} = 42,400.SV=120,000−12120,000×0.97×8=42,400.
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