Estimating Useful Life and Percent Used Up The property and equipment footnote from the Deere & Company Equipment and Operations segment follows. Property and Depreciation A summary of property and equipment at October 31 follows Property and Equipment (5 millions) Useful Lives (Years) 2015 2014 $114 $120 Land Buildings and building equipment 23 2,794 3037 Machinery and equipment 11 4.833 5019 Dies, patterns, tools, etc B 1.567 1.552 5 1175 809 All other Construction in progress Total at cost Lets accumulated depreciation Total weighted averages 345 530 10528 11217 55465004 $4.682 $5.523 Total property and equipment additions in 2015, 2014 and 2013 were $666 million, $1,016 million and $1,158 million, and depreciation was $692 million, 1696 million and $637 million, respectively. a. Compute the average useful life of Deere's depreciable assets at year-end 2015 Round answer to one decimal place 14.6 x years b. Estimate the percent used up of Deere's depreciable assets at year-end 2015 Round answer to one decimal place lex: 0.2345-23.5) 63'9 Property and Equipment ($ millions) Land Buildings and building equipment Machinery and equipment Dies, patterns, tools, etc All other Construction in progress Total at cost Less accumulated depreciation Total *Weighted averages Useful Lives* (Years) 2015 2014 $114 $120 23 31 11 00 2,794 3,037 4,833 5,089 1,567 1,552 8 5 875 889 345 530 10,528 11,217 5,846 5,694 $4,682 $5,523