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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
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
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