The cost of equipment is P500,000 and the cost of installation is P30,000. If the salvage value is 10% of the cost of equipment at the end of 5 years, determine the depreciation charge and book value...

Extracted text: The cost of equipment is P500,000 and the cost of installation is P30,000. If the salvage value is 10% of the cost of equipment at the end of 5 years, determine the depreciation charge and book value at the end of the third year using (a) straight line method, (b) declining balance method, and (c) sum of the years digit method.