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Assume that the following was shown on the balance sheet related to property, plant and equipment on January 1, 2014: Total PPE: $29,347 Less: Accum. Depr. 17,588 $11,759 Also assume that a footnote says the following: “property, plant, and equipment is depreciated using the straight-line method.” Annual depreciation expense is approximately $1,800. 1. Estimate the average useful life of depreciable assets (assume no residual values). 2. Estimate the average age of depreciable assets on January 1, 2014.

Assume that the following was shown on the balance sheet related to property, plant and equipment on January 1, 2014:

Total PPE: $29,347

Less: Accum. Depr. 17,588

$11,759

Also assume that a footnote says the following: “property, plant, and equipment is depreciated using the straight-line method.” Annual depreciation expense is approximately $1,800.

1. Estimate the average useful life of depreciable assets (assume no residual values).

2. Estimate the average age of depreciable assets on January 1, 2014.

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