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The annual financial statements of Valley Vineyards, Inc. include the following footnote: Note 4. Property and Equipment Construction in progress Land Winery buildings and hospitality center Equipment December 31, Year 2 December 31, Year 1 $ 449,527 $ 385,827 8,063,716 5,089,472 Less accumulated depreciation 14,458,309 10,122,593 33,094,145 (12,897,082) $20,197,063 $ 1.003.564 13,756,320 9,055,987 28,287,606 (11.654,901) 16.632.705 $ 955.353 Depreciation expense a. Compute the amount of depreciable asset cost on Dec. 31. Year 2. Ans: $ b. Assume the average of depreciable asset costs for year 2 is $23,696,605, what is the average useful life of Valley's depreciable assets for year 2: Ans