A surveillance equipment bought by FabLab Mindanao 2 years ago has been book-depreciated by the straight-line method using a 5-year useful life. If the book value at the end of year 2 is ₱240,000 and the company assumed that the equipment would be worthless at the end of its 5-year useful life,
a)What is the book depreciation charge each year?b)What was the first cost of the equipment?
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