Lanka Industries is a technology company that operates in a highly competitive environment. In 2015, management had significantly curtailed its capital expenditures due to cash flow problems. Lanka reported the following information for 2018: Net tangible capital assets (beginning of year), $489,000 Net tangible capital assets (end of year), $505,000 Net sales, $1,065,000 Accumulated depreciation (end of year), $543,000 Depreciation expense, $113,000 An analyst reviewing Lanka's financial history noted that Lanka had previously reported tangible capital asset turnover ratios and average age of its assets as follows: 2013 2014 2015 2016 2017 Tangible capital asset turnover 2.48 2.45 2.74 2.57 2.33 Average age of assets (years) 1.81 1.79 1.942.81 3.74