The following information is available from the2009 financial statements of Boonrawd Corp.:

Required:
(a) What is the average age of the equipment?
(b) What is the average useful life of the equipment?
(c) Would your answers to parts (a) or (b) change if you knew the equipment investment had been made on December 1, 2009? If so, why? What would your answers now be to those parts?

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Income statement:Depreciation Expense 250,000 Statement of cash flows: Equipment investment 978,000 Balance sheet: Year-end balance of Equipment Year-end balance of Acc. Depr Equipment 3,670,000 1,058,700