The 2015 Financial Statements of Dell Company include the following footnote:
2016 2015
Land $4,000,000 $4,000,000
Building $6,000,000 $5,400,000
Equipment $1,500,000 $ 800,000
Total Cost $11,500,000 $10,200,000
less: accumulated depreciation $4,500,000 $3,800,000
Net Book Value $7,000,000 $6,400,000
In addition, Sales for 2016 were $30,000,000, and depreciation expense was $700,000.
a) Calculate Property, Plant, and Equipment Turnover for 2016.
b) Estimate the Useful Life on average for the depreciable assets at the end of 2016.
c) Estimate the Property and Equipment Percent Used Up at the end of 2016.