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Question - The 2019 financial statements for Treadstone Machinery report the following information:
Year ended December 31, (In millions)
2019
2018
Revenues
21,012
19,876
Property and equipment, net
89,219
67,582
Accumulated depreciation
45,016
33,511
Depreciation expense
11,505
8,950
Required - Compute the following ratios:
A) Property, plant and equipment turnover for 2019.
B) Average useful life
C) Percent Used Up
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a. How much in taxable income does T have as a result of receiving the rights?
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