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What would be the depreciation expense recorded

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Question - The Star Company purchased a tooling machine in 1995 for P120,000. The machine was being depreciated on the straight-line method over an estimated useful life of 20 years, with no salvage value. At the beginning of 2005, when the machine had been in use for ten years, the company paid P20,000 to overhaul the machine. As a result of this improvement, the company estimated that the useful life of the machine would be extended an additional five years. What would be the depreciation expense recorded for the above machine in 2005?

Reference no: EM133185378

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