2. The following information has been provided by Bolero Corporation and Canway Enterprises: in '000's $ Bolero Canway 2020 2020 450 175 625 872 1,050 3,533 1,000 3,100 Cash Inventory Land Building Accum Depreciation Machinery Accum Depreciation 250 1,225 580 2,550 400 1.250 Additional Information: Both Companies use straight-line depreciation, buildings are estimated to have no residual value and a 40 year useful life, while machinery is estimated to have no residual value and a 10 year useful life. Instructions Calculate the average age of PPE for 2020 using both the average age % and average age ratios. Assess the age of Bolero and Canway's assets. Which company is likely to begin to replace its assets first