Bakiponi Corp What Is the Average Age of the Company's Fixed Assets

question 24

Multiple Choice

Bakiponi Corp. provides the following data from its recent financial statements: $$\begin{array} { | l | r | r | } \hline \text { Dollars in millions) } & { \mathbf { 2 0 1 8 } } & { \mathbf { 2 0 1 9 } } \\\hline \text { Beginning Gross Fixed Assets } & \$ 2,140,000 & \$ 2,260,000 \\\hline \text { Ending Gross Fixed Assets } & 2,260,000 & 2,380,000 \\\hline \text { Beginning Accumulated Depreciation } & 1,210,000 & 1,450,000 \\\hline \text { Current year Depreciation Expense } & 240,000 & 290,000 \\\hline \text { Current year Sales Revenue } & 3,750,000 & 4,620,000 \\\hline\end{array}$$
What is the average age of the company's fixed assets as of the end of 2019? (Round your answer to two decimal places, X.XX.)

• A) 3.21
• B) 5.00
• C) 6.00
• D) 8.21

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