On April 1, 2022, Deland Manufacturing Company purchased a new equipment for P800,000. The equipment has an estimated residual value of 20,000 and useful life of 12 years. Depreciation is computed using sum-of-the-years digits (SYD) method. How much is the amount of depreciation for the year 2022? P30,000 O P120,000 O $90,000 P240,000 O None of the above

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