Question
The 2011 financial statements of Willamette Valley Vineyards include the following footnote: Note 4: Property and Equipment 20112010 Construction in progress$ 333,162$ 152,039 Land2,610,374 2,608,960
The 2011 financial statements of Willamette Valley Vineyards include the following footnote:
Note 4: Property and Equipment
20112010
Construction in progress$ 333,162$ 152,039
Land2,610,374 2,608,960
Winery building and hospitality center 6,727,419 5,516,343
Equipment6,347,4356,030,706
16,018,39014,308,048
Less accumulated depreciation(8,717,653)(8,064,058)
$7,300,737$6,243,990
Depreciation expense $671,359$ 646,155
The average useful life of Willamettes depreciable assets at the end of fiscal 2011 is:
A)9.8 years
B)10.4 years
C)16.6 years
D)19.5 years
E)None of the above.
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