Current Year Book Value of Fixed Assets Cannington Inc. designs, manufactures, and markets personal computers and related software. Cannington also manufactures and distributes music players (cPod), mobile phones (cPhone), and smartwatches (Cannington Watch) along with related accessories and services, including online distribution of third-party music, videos, and applications. The following information was taken from a recent annual report of Cannington Property, Plant, and Equipment (in millions): Preceding Year Land and buildings $290,481 Machinery, equipment, and internal-use software 475,789 375,623 Other fixed assets 606,004 455,755 Accumulated depreciation and amortization (636,054) (530,880) a. Compute the book value of the fixed assets fof the current year and the preceding vear. Current year book value (In millions) 958,759 x Preceding year book value (in millions) s 598,590 x $500,830 A comparison of the book values of the current and preceding years indicates that they increased A comparison of the total cost and accumulated depreciation reveals that Cannington purchased : million of additional fixed assets, which was offset the additional depreciation expense of s million taken during the current year, b. Would you normally expect Cannington's book value of fixed assets to Increase or decrease during the year? Increase