1. Lloyd Company purchased a depreciable asset for P1,360,000. The estimated salvage value is P360,000, and the estimated useful life is 8 years. The double-declining balance method will be used for...

1. Lloyd Company purchased a depreciable asset for P1,360,000. The estimated salvage value is P360,000, and the estimated useful life is 8 years. The double-declining balance method will be used for depreciation. What is the depreciation expense for the second year on this asset? *