Problem 1: An equipment costs Php 1.5 M, has an economic life of 7 years and a salvage value of Php 300,000. If the fifth year depreciation charge amounted to Php 128,571.43, what specific depreciation method was used? Show your computation.
Problem 2: A truck used for hauling gravel was bought for Php 5,000,000 and will be sold for Php 1,000,000 after its useful life. It will be used until the total haul has reached 5000 tons. What should be the depreciation charge for the year it hauled 400 tons and what is its book value when it has hauled 78% of its hauling life?