Jennings Advertising, Inc. reported the following in its December 31, 2021, balance sheet: Equipment Less: Accumulated depreciation-equipment $420,000 $157,500 In a disclosure note, Jennings indicates that it uses straight-line depreciation over 12 years and estimates salvage value at 10% of cost. What is the average age of the equipment owned by Jennings? Multiple Choice 3.8 years. O 8.2 years. O 7 years. O O 5 years