Based on the following partial financial statement, calculate the fixed asset newness ratio: Provide your answer in decimal form, with three significant digits.

Current Assets
Cash and Securities	$2,069,775
Accounts Receivables	$4,466,680.7
Retainage	$955,878.57
Inventory	$87,437.73
Earnings in Excess of Billings	$286,350.52
Other Current Assets	$208,891.83
Fixed Assets
Property	$23,000,000
Construction Equipment	$3,571,453.8
Vehicles	$562,741.32
Office Equipment	$67,102
Depreciation	$-3,254,652.41
Other Fixed Assets	$245,049.8

Answer rating: 100% (QA)

To calculate the fixed asset newness ratio we need to determine the net book value of the fixed asse... View the full answer