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The Following Information Has Been Provided by Bolero Corporation and Canway

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The following information has been provided by Bolero Corporation and Canway Enterprises: The following information has been provided by Bolero Corporation and Canway Enterprises:   Additional Information: Both Companies use straight-line depreciation, buildings are estimated to have no residual value and a 40 year useful life, while machinery is estimated to have no residual value and a 10 year useful life. Instructions Calculate the average age of PPE for 2020 using both the average age % and average age ratios. Assess the age of Bolero and Canway's assets. Which company is likely to begin to replace its assets first? Additional Information:
Both Companies use straight-line depreciation, buildings are estimated to have no residual value and a 40 year useful life, while machinery is estimated to have no residual value and a 10 year useful life.
Instructions
Calculate the average age of PPE for 2020 using both the average age % and average age ratios. Assess the age of Bolero and Canway's assets. Which company is likely to begin to replace its assets first?

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