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Current Year Cannington, Ine, designs, manufactures, and markets personal computers and related soltware. The following information was taken from a recent annual report of Cannington
Current Year Cannington, Ine, designs, manufactures, and markets personal computers and related soltware. The following information was taken from a recent annual report of Cannington Industries Property, plant, and Equipment (in millions): Preceding Year Land and buildings $697,730 $404,683 Machinery, equipment, and internal-use software 662,844 523,298 Office furniture and equipment 104,660 90,705 Other fixed assets related to leases 844,253 634,934 Accumulated depreciation and amortization (886, 117) (739,594) - 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
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