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Estimating Useful Life, Percent Used Up, and Gain or Loss on Disposal Husky Energy is one of Canadas largest integrated energy companies. Based in Calgary,
Estimating Useful Life, Percent Used Up, and Gain or Loss on Disposal Husky Energy is one of Canadas largest integrated energy companies. Based in Calgary, Alberta, Husky is publicly traded on the Toronto Stock Exchange. The Company operates in Western and Atlantic Canada, the United States and the Asia Pacific Region with upstream and downstream business segments. The company uses IFRS to prepare its financial statements. During 2018, the company reported depreciation expense of $2,591 million. The property and equipment footnote follows.
a. Compute the average useful life of Husky Energy's depreciable assets in 2018. Assume that land is 10\% of "Refining." Note: Round your answer to one decimal place (for example, enter 6.8 for 6.77555 ). x years b. Estimate the percent used up of Husky Energy's depreciable assets in 2018. Note: Round percentage to one decimal place (for example, enter 6.7% for 6.6555% ). % Note: Do not use any negative signs with your answersStep by Step Solution
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