On December 31, 2020, before the books were closed, the management ofDavid Companymade the following determination about its machinery. The machinery was purchased on January 1, 2017 for P7,200,000. The machinery has a useful life of 10 years with no residual value and was depreciated using the straight line method.In 2020, a decision was made to change the depreciation method from straight line to sum of year’s digits method. What is the depreciation of this machinery for 2020?
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