Book Value of Fixed Assets Cannington, Inc., designs, manufactures, and markets personal computers and related software. The following information was taken from a recent annual report of Cannington: Property, Plant, and Equipment (in millions): Current Year Preceding Year Land and buildings $745,180 $432,204 Machinery, equipment, and internal-use software 707,921 558,885 Other fixed assets related to leases 901,668 678,114 Accumulated depreciation and amortization (946,379) (789,891) a. Compute the book value of the fixed assets for the current year and the preceding year. Current year book value Preceding year book value A comparison of the book values of the current and preceding years indicates that they depreciation reveals that Cannington purchased s million taken during the current year. A comparison of the total cost and accumulated- million of additional fixed assets, which was offset by the additional depreciation expense of s b. Would you normally expect the book value of foxed assets to increase or decrease during the year?