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A company reported the following in its December 31, 2024, balance sheet: Equipment $ 420,000 Less: Accumulated depreciationequipment $ 157,500 A disclosure note indicates that

A company reported the following in its December 31, 2024, balance sheet: Equipment $ 420,000 Less: Accumulated depreciationequipment $ 157,500 A disclosure note indicates that the company uses straight-line depreciation over 12 years and estimates salvage value at 10% of cost. What is the average age of the equipment?

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