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.

Useful Lives$*$

Property and Equipment $($$ millions$)($Years$)20152014$

Land $$114$ $$120$

Buildings and building equipment $233,6823,037$

Machinery and equipment $115,7215,089$

Dies, patterns, tools, etc $81,5671,552$

All other $5875889$

Construction in progress $345530$

Total at cost $12,30411,217$

Less accumulated depreciation $5,8465,694$

Total $$6,458$ $$5,523$

$*$Weighted averages

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, $$696$ million and $$637$ million, respectively.

a$.$ Compute the average useful life of Deere$$s depreciable assets at year$-$end $2015.$

Round answer to one decimal place.

Answer $1$

$11\mathrm{.}8$

years

b$.$ Estimate the percent used up of Deere$$s depreciable assets at year$-$end $2015.$

Round answer to one decimal place $($ex: $0\mathrm{.}2345=23\mathrm{.}5\%)$

Answer $2$

$49\mathrm{.}4$

$\%$