Question
Chambersburg Corp. The following information is for Chambersburg Corp. for 2018 and 2017. Chambersburg uses the straight-line depreciation method. 2018 2017 Property, plant, and equipment
Chambersburg Corp. The following information is for Chambersburg Corp. for 2018 and 2017. Chambersburg uses the straight-line depreciation method. 2018 2017 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 Chambersburg Corp. Using the 2018 data, what is the average life of Chambersburg's property, plant, and equipment (rounded to one decimal place)? a. 4.0 years b. 10.0 years c. 2.5 years d. 1.6 years
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