Husky Energy is one of Canada's latgest integrated energy companies. Based in Calgary, Alberta, Husky is publicly traded on the Toronto Stock Exchange. The Company operates in Western and Atlantic Canada, the United States and the Asia Pacific Region with upstream and downstream business segments. The company uses IFRS to prepare its financial statements. During 2012, the company reported depreciation expense of \(\$ 2,583\) million. The property and equipment footnote follows.

Required

a. Compute the estimated useful life of Husky Energy's depreciable assets at year-end 2012.

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Property, Plant and Equipment ($ millions) Cost December 31, 2011 Additions... Aquisitions Transfers from exploration and evaluation Changes in asset retirement obligations Disposals and derecognition Exchange adjustments... December 31, 2012 Disposals and derecognition Exchange adjustments... December 31, 2012. Oil and Gas Properties Net book value December 31, 2011 December 31, 2012 $33,640 3,971 16 198 1,097 (76) (20) $38,826 Accumulated depletion, depreciation, amortization and impairment December 31, 2011 Depletion, depreciation and amortization.. $(15,900) (2,101) 49 5 $(17,947) Processing, Transportation and Storage Upgrading Refining $ 17,740 20,879 $930 53 $ 981 $(407) (36) $(443) $ 523 538 $1,972 47 $2,006 $ (848) (102) $ (950) $1,124 1,056 $4,916 $2,176 349 146 (93) $5,094 Retail and Other $(1,260) $3,870 3,834 29 (127) $(1,046) $(1,154) (241) (103) 3 124 24 $2,225 - $(1,133) $1,022 1,092 Total $43,634 4,566 16 198 1,040 (210) (112) $49,132 $(19,355) (2,583) 176 29 $(21,733) $24,279 27,399