An equipment cost P67,000 and has a life of 10 years and salvage value of P53,500. Determine its book value at the end of 8 years by Declining Balance Method.     a. 55,962.61 b. 56,731.35 c. 54, 659.05 d. 55, 694.35

Essentials Of Investments
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Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
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Chapter1: Investments: Background And Issues
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An equipment cost P67,000 and has a life of 10 years and salvage value of P53,500. Determine its book value at the end of 8 years by Declining Balance Method.
   
a. 55,962.61
b. 56,731.35
c. 54, 659.05
d. 55, 694.35  
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