Question: An engineer bought an equipment for Php 500,000. He spent an additional amount of Php 30,000 for installation and other expenses. The estimated useful life

An engineer bought an equipment for Php 500,000. He spent an additional amount of Php 30,000 for installation and other expenses. The estimated useful life of the equipment is 10 years. The salvage value is x% of the first cost. Using the straight line method of depreciation, the book value at the end of 5 years will be Php 291,500. What is the value of x?

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