Question: Information for Everett Evacuators for 2015 and 2014 is presented below. Everett uses the straight-line depreciation method. 2015 2014 Non-current assets $250 000 $190 000
Information for Everett Evacuators for 2015 and 2014 is presented below. Everett uses the straight-line depreciation method.
|
| 2015 | 2014 |
| Non-current assets | $250 000 | $190 000 |
| Accumulated depreciation | 100 000 | 85 000 |
| Depreciation expense | 62 500 | 47 500 |
| Total revenues | 1 000 000 | 900 000 |
| Total assets | 625 000 | 475 000 |
Using the data for 2015, determine the average useful life of Everett's non-current assets rounded to one decimal place.
| 1.6 years | ||
| 4.0 years | ||
| 2.5 years | ||
| 4.7 years |
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