Transcribed image text: Jennings Advertising Inc reported the following in its December 31, 2021, balance sheet Equipment $340,000 In a disclosure note, Jennings indicates that it uses straight line depreciation over 15 years and estimates salvage value at 10% of cost What is the average age of the equipment owned by Jennings? Multiple Choice 12.5 years 24 years 11 years 4 years