Chambersburg Corp -Refer to the Information for Chambersburg Corp

question 53

Multiple Choice

Chambersburg Corp.
The following information is for Chambersburg Corp.for 2018 and 2017.Chambersburg uses the straight-line depreciation method.
$$\begin{array} { l r r } & \underline { \mathbf { 2 0 1 8 } } & \underline { \mathbf { 2 0 1 7 } } \\\text { Property, plant, and equipment } & \$ 250,000 & \$ 190,000 \\\text { Accumulated depreciation } & 100,000 & 85,000 \\ \text { Depreciation expense } & 62,500 & 47,500 \\\text { Net sales } & 1,000,000 & 900,000 \\\text { Average total assets }& 625,000 & 475,000\end{array}$$
-Refer to the information for Chambersburg Corp. ?
Using the 2018 data,what is the average life of Chambersburg's property,plant,and equipment (rounded to one decimal place) ?

• A)1.6 years
• B)2.5 years
• C)4.0 years
• D)10.0 years

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Definitions:

Limited Funding

A situation where financial resources are insufficient to meet the needs or ambitions of a project, organization, or initiative.

Police Corruption

Dishonest or fraudulent conduct by police officers, typically involving bribery or the misuse of power.

Drug Traffickers

Individuals involved in the illegal distribution and sale of drugs.

Mollen Commission

An independent commission established to investigate corruption within a police department, particularly noted for its work with the New York City Police Department in the 1990s.