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What the average age of fixed asset is estimated to be

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Reference no: EM132584558

Big Steel Co. has the following accounts:

Current assets $10,000

Property, plant & equipment $240,000

Less: accumulated depreciation 100,000 140,000

Total assets $150,000

Gross profit $95,000

Depreciation expense $25,000

Tax expense $10,000

Net income $55,000

Problem 1: The average age of fixed asset is estimated to be:

Problem 2: the average age % of fixed assets is:

Reference no: EM132584558

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