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In Year 4, Landmark Restaurants Reported the Cost of Property

Question 94

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In Year 4, Landmark Restaurants reported the cost of property and equipment at $1,189.8 million and the accumulated depreciation at $224.2 million. In that same year, Coca Cola reported $10,149 million in long-lived, productive assets and accumulated depreciation on them of $4,058.
Required:
A.Estimate the approximate percent of remaining life of the assets for Landmark and Coca Cola.
B.Which company appears to have newer assets with longer remaining lives?

Correct Answer:

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A. Landmark: 81.2% = ($1,189.8 - $224.2)...

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