The following property and equipment section was obtained from a recent Abott Laboratories 10-K. Property and equipment at cost Land $1,291,500 Buildings.. $2,655,400 Equipment.. $8,813,500

TOTAL COST $12,760,400

Less accumulated depreciation and amortization (6,757,300)

Net Book Value .. .. $6,003,100

In addition depreciation expense was $573,445.

a. Estimate the Property and equipment percent Used up.

b. Estimate the Useful life on average for the depreciable assets