Question: A new engine was installed by a textile plant at cost of P and projected to have a useful life of 14 years. At the

A new engine was installed by a textile plant at cost of P and projected to have a useful life of 14 years. At the end of its useful life, it is estimated to have a salvage value of P29,000. The capitalized cost is P390,000. Determine the first cost P if interest is 13% compounded annually. Express your answer in whole number

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