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Tweedie Company reported the following in the long-term asset section of its balance sheet; Equipment, net...

Tweedie Company reported the following in the long-term asset section of its balance sheet;

Equipment, net of depreciation of $120,000

and $100,000, respectively

Year 2

$167,500

Year 1

$187,500

Patent, net of amortization of $31,500 and

$27,000, respectively

88,000

92,500


The company uses the straight-line method to depreciate and amortize all of its operating assets. No new long-term assets were acquired nor sold during the year.

As of December 31, Year 2, approximately how old is the equipment in years?

A) 2 years
B) 18 years
C) 6 years
D) 11 years

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