Bakiponi Corp. provides the following data from its recent financial statements:
(Dollars in millions)
2016
2017
Beginning Gross Fixed Assets
$2,340,000
$2,460,000
Ending Gross Fixed Assets
2,460,000
2,580,000
Beginning Accumulated Depreciation
1,110,000
1,340,000
Current-year Depreciation Expense
230,000
280,000
Current -year Sales Revenue
3,450,000
4,320,000
What is the average age of the company's fixed assets as of the end of 2017?
A) 4.4
B) 4.8
C) 5.8
D) 9.2
Answer: C
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