Book value of fixed assets In a recent balance sheet, Macrohard, Inc. reported Property, Plant, and Equipment of $97,500 million and Accumulated Depreciation of $54,600 million. a. What was the book value of the fixed assets? million b. Would the book value of Macrohard's fixed assets normally approximate their fair market values? Feedback Check My Work a. Review the definition of the term 'book value'. Recall that the original cost of Property, Plant, and Equipment is not directly adjusted. However, accumulated depreciation is maintained to show that the asset's cost has been allocated over the periods used. The net of these two distinct amounts shows book value. b. Review the definition of the term 'book value'. Depreciation is cost allocation, while fair market value is market-based. Does depreciation attempt to facilitate the measurement of market values