7. The following PPE footnote is from Deere & Company's 10 Property and Depreciation A summary of property and equipment at October 31 follows: Average Useful Lives (S millions) Equipment Operations Land Buildings and building equipment Machinery and equipment Dies, patterns, tools, etc All other ears 2016 2015 S 75 1,419 2,870 987 571 156 6,078 4.113 3966 $2.27Z $2.112 s 79 1,490 2,961 1,039 589 232 6,390 25 10 7 Total at cost Total During 2016, Deere & Co. reported S636.5 million in depreciation. Estimate how used up Deere's depreciable assets are a, 68% b. 64% c. 50% d. 3690 e. I 5% 8. Refer to the information from Deere & Co. in question 7. Assume Deere management is considering an impairment charge on some manufacturing assets. If Deere were to record an impairment charge, the effect would be to: a. Reduce Deere's reported pre-tax income for the period containing the charge and increase net PPE. b. Reduce Deere's reported pre-tax income for the period containing the charge and increase accumulated depreciation. c. Increase Deere's reported pre-tax income for the period containing the charge and increase accumulated depreciation. d. Increase Deere's reported pre-tax income for the period containing the charge and reduce net PPE e. Reduce Deere's reported pre-tax income for the period containing the charge and reduce accumulated depreciation. 9. (2 points) Assume Deere management is considering an impairment charge on some manufacturing assets. Assume the assets under consideration for impairment originally cost $300 million and have accumulated depreciation in the amount of S125 million. Assume Deere management has estimated the fair-value of the assets under consideration to be $75 million. If Deere management decides to book (i.e., record) an asset impairment charge, determine the dollar amount of the charge. Also, what will the balance sheet value (i.e., book value) of the assets be immediately after the charge