Estimate the property and equipment percent used up

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Question - The following property and equipment section was obtained from a recent Abott Laboratories 10-K.

Property and equipment at cost

Land $1,291,500

Buildings $2,655,400

Equipment $8,813,500

TOTAL COST $12,760,400

Less accumulated depreciation and amortization (6,757,300)

Net Book Value $6,003,100

In addition depreciation expense was $573,445.

a. Estimate the Property and equipment percent Used up.

b. Estimate the Useful life on average for the depreciable assets.

Reference no: EM133025208

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