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What the depreciation expense that can be allowed

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In January 1, 2019, ABC Corporation purchased vehicle used in the business operations amounting to trade price of P15,000,000 with useful life of 15 years. The trade discount is 10% of trade price. The vehicle will be at no cost after its useful life.

Question 1: What is the depreciation amount?

A. P15,000,000

B. P13,500,000

C. P14,000,000

D. P12,150,000

Question 2: The depreciation expense that can be allowed as deduction from its income in year 2019, assuming ABC Corp is using straight line method is:

A. P1,000,000

B. P900,000

C. P1,350,000

D. P1,500,000

Reference no: EM132588525

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