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The following is information selected from NuPlay's annual financial statements. NuPlay ends its fiscal year on December 31. Assume there were no non-monetary exchanges relating

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The following is information selected from NuPlay's annual financial statements. NuPlay ends its fiscal year on December 31. Assume there were no non-monetary exchanges relating to PP&E. 2011 2010 $22,500 $4,000 Cash expenditures on the $33,000 purchase of PP&E Cash receipts from the $6,000 sale of PP&E Accumulated $225,000 Depreciation Net Book Value of PP&E $125,000 Depreciation Expense $25,000 $330,000 $155,000 $22,000 Question 23: Compute the gain (loss) on assets sold during 2011. Question 24: Compute the approximate total life (in years) of NuPlay's PP&E at the end of 2011. Assume NuPlay uses straight-line depreciation and uses a salvage value of zero for all assets. Question 25: Compute the approximate age (in years) of NuPlay's PP&E at the end of 2011. Assume NuPlay uses straight-line depreciation and uses a salvage value of zero for all assets

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