On March 25, 2020, Blue Steel co. purchased a new extrusion machine for Php 3,344,015 with an expected scrap value of Php 167,831 after 6 years. What is the annual depreciation rate (in php) given that the machine is in operation for 1,638 hours per year? note: write the number with at most 2 decimal places without the unit (eg. 75.17 and NOT Php 75.17)

On March 25, 2020, Blue Steel co. purchased a new extrusion machine for Php 3,344,015 with an expected scrap value of Php 167,831 after 6 years. What is the annual depreciation rate (in php) given that the machine is in operation for 1,638 hours per year? note: write the number with at most 2 decimal places without the unit (eg. 75.17 and NOT Php 75.17)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

On March 25, 2020, Blue Steel co. purchased a new extrusion machine for Php 3,344,015 with an expected scrap
value of Php 167,831 after 6 years.
What is the annual depreciation rate (in php) given that the machine is in operation for 1,638 hours per year?
note: write the number with at most 2 decimal places without the unit (eg. 75.17 and NOT Php 75.17)

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