Use the information presented below for Farley River, Inc for 2015 and 2014 to answer the questions that follow. Farley River uses the straight-line depreciation method. 2015 2014 Property, plant, and equipment $ 250,000 $190,000 Accumulated depreciation 100,000 85,000 Depreciation expense 62,500 47,500 Net sales 1,000,000 900,000 Average Total assets 625,000 475,000 Refer to the information for
Farley River, Inc Using the 2015 data, what is the average life of Farley River's property, plant, and equipment (rounded to one decimal place)?
a. 1.6 years
b. 2.5 years
c. 4.0 years
d. 10.0 years
c
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