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 (in millions): Preceding Year Land and buildings Machinery, equipment, and internal-use software Office furniture and equipment Other fixed assets related to leases Accumulated depreciation and amortization Current Year $539,150 512,193 80,873 652,372 (684,721) $312,707 404,363 70,090 490,627 (571,499) 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