Examine the excerpt of a footnote from Red Rock's September 30, 2016, annual report to follow?

1. What are Red Rock's largest two categories of property and equipment as of September 30, 2016? Describe in general terms the types of expenditures included in these categories.
2. What was Red Rock's gross cost of property and equipment at September 30, 2016? What was the book value of property and equipment on this date? Why is book value less than cost?

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A1 Balances of Major Classes of Property and Equipment Are as Follows (in thousands) 3Land 4 Buildings and leasehold improvements 5 Capitalized real estate leases Sep. 30, 2016 Sep. 30,2015 76,597 $48,922 1.958,617 24,264 2,219,767 24,869 1,674,089 53,328 6 Fixtures and equipment 7-Construction in progress and equipment not yet in service 1387,110 118,933 4,048,6503,537,846 1,853,9631,644,414) 9 Less accumulated depreciation and amortization 10