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 Industries: Property, Plant, and Equipment: Current Year Preceding Year Land and buildings $684,000 $396,720 Machinery, equipment, and internal-use software 649,800 513,000 Office furniture and equipment 102,600 88,920 other fixed assets related to leases 827,640 622,440 Accumulated depreciation and amortization 660,680 725,040 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 b. Would you normally expect the book value of fixed assets to increase or decrease during the year