Determine the rate of depreciation, the total depreciation up to the end of the 8th year and the book value at the end of 8 years for an asset that cost P15,000 new and has an estimated scrap value of...

Determine the rate of depreciation, the total depreciation up to the end of the 8th year and the book value at the end of 8 years for an asset that cost P15,000 new and has an estimated scrap value of P2,000 at the end of 10 years by (a) declining balance method and (b) the double declining balance method.