Acosta company acquired a machine on january 1 2013

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27. Acosta Company acquired a machine on January 1, 2013 for P10,000,000. The machine has an 8-year useful life and a P1,000,000 residual value, and was depreciated using the sum-of- years digits method. Acosta recorded a full year’s depreciation o n the asset in 2013 and 2014. In January of 2015, Acosta estimated that the ass et’s useful life from the date of acquisition should have been 6 years and its residual value to be P400,000. As a result of this change in Acosta’s accounting estimate, what is the accumulated d epreciation on December 31, 2015?
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